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Appointment of two new Gold Fields non-executive directors

Friday, 22 July 2016

Johannesburg, 22 July 2016: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) is pleased to announce the appointments of Alhassan Andani and Peter Bacchus as independent non-executive directors to the Board of Gold Fields. This brings to four the announcements of new non-executive directors to the Gold Fields Board over the past two months. 

The appointment of Mr Andani takes effect on 1 August 2016 and that of Mr Bacchus on 1 September 2016. Earlier this month Gold Fields announced that former KPMG Africa Chair Yunus Suleman will join the Board on 1 September 2016, while Impala Platinum CEO Terence Goodlace joined as a director on 1 July 2016. 

Gold Fields Chairperson Cheryl Carolus said the four new directors will ensure continuity of the skills set of the Board as a number of the current directors were approaching retirement age over the next two years. Former director David Murray stepped down from the Board on 1 June 2016.

 “The new directors provide the technical, financial, commercial and global mining experience necessary to help Gold Fields maintain and further strengthen its position as a global leader in sustainable gold mining,” Ms Carolus said. Mr Andani (55) is currently Chief Executive and Executive Director of Stanbic Bank Ghana. He has held various directorship positions and is currently the Board Chairman of the Ghana CSIR (Council for Scientific & Industrial Research) and a director of SOS Villages Ghana. He holds a BSc in Agriculture from the University of Ghana and a Master’s Degree in Banking and Finance from the Finafrica Institute in Italy. 

Mr Bacchus (47) is the Global Head of Mining & Metals and Joint Head of European Investment Banking at investment bank Jefferies, based in London. Prior to this position he was Global Head of Mining & Metals at Morgan Stanley and before then Head of Investment Banking, Industrials and Natural Resources at Citigroup. Mr Bacchus has over 20 years’ experience in investment and corporate banking with a focus on the global natural resources sector. He is also a non-executive director of UK-listed mining group NordGold and a trustee of Space for Giants, an African-focused conservation charity. He is a qualified Chartered Accountant and holds a Masters in Economics from Cambridge University, United Kingdom. 


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