Gold Fields trims Board Directors amidst low gold prices
The Gold Fields group has cut down its number of Board Directors from 12 to nine, the miner announced August 21, 2013.
The company says the move to review the composition of the Board of Directors is in light of its new strategic direction amidst “current low gold price and high cost operating environment”.
The Chair of Gold Fields Ms Cheryl Carolus, announced “Following discussions with the Board and the Nominating and Governance Committee, Messrs Delfin Lazaro, Roberto Dañino and Rupert Pennant-Rea volunteered to resign as non-executive directors and have agreed to step down from the Board with immediate effect.”
Ms Carolus thanked each of the departing non-executive directors for their experience and expertise to a range of matters over the time they have been with the company.
Meanwhile, Gold Fields has announced that non-executive director, Mr Donald Ncube will assume the role of the Chair of the Social and Ethics Committee and non-executive director, Mr Alan Hill will assume the role of the Chair of the Remuneration Committee.
The miner believes that its new composition will more appropriately reflect the needs of the Company.
By Ekow Quandzie
If these minerals companies are loosing money please leave the minerals on the ground. Gold use to $500 few years ago and at $1000 they are making profits huge profits. They should stop these lies