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Monday, 09 October 2023 21:09

Gold Fields announces Mike Fraser as its new CEO.

By Lehlohonolo Lehana.

File:South32’s president and chief operating officer, Mike Fraser, at the BHP Billiton spin-off’s listing on the JSE in 2015. Picture: Martin Rhodes.

JSE-listed gold producer Gold Fields has appointed Michael Fraser as its newest CEO and executive director from January 2024.

Fraser will take over from Martin Preece, who took up the position of interim CEO on January 1 this year, following the resignation of former CEO Chris Griffith. To ensure a seamless leadership transition, Preece will continue as interim CEO until December 31.

Fraser, who is South African and holds a BComm and an MBA from the University of South Africa, will relocate to Johannesburg from London.

"On behalf of the board, I would like to welcome Mike to the Gold Fields team. We are delighted to have a seasoned executive of his talent join Gold Fields as the CEO.

"He brings a rich and unique mix of global operational and corporate experience and his track record of collaboration in delivering superior results in productivity, safety and culture ideally place him to lead our management team in taking our business forward," says Gold Fields chairperson Yunus Suleman.

"It is indeed a great honour to join one of the world's top gold mining companies, particularly one that has set the pace in so many areas, including operational performance, value creation and positive impact for its stakeholders.

"Gold Fields has in recent years transformed itself into a modern and global business that has embedded enviromental, social and governance in its business and provides strong value to its stakeholders. I look forward to working with the Gold Fields team in continuing this successful journey," Fraser says. 

In a conference call on October 9, Fraser said that while Gold Fields has enjoyed a good performance over the past decade, this can be bolstered further. 

He outlined that he would focus on the key priorities of the business, noting that there is a sound strategy in place that needs to be executed and delivered on. 

Fraser added that the focus for the company would be on delivering on key projects, such as the Salares Norte project, in Chile, where first gold is still expected to be poured in the fourth quarter of this year.