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Resignation Of Chair And Appointment Of New Chair

Stocks in this article: GFI

JOHANNESBURG, Feb. 13, 2013 /CNW/ - The Chair of Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI), Dr Mamphela Ramphele, has announced her resignation from the Company's Board of Directors with immediate effect. Dr Ramphele has decided to retire as Chair to further her socio-economic and political work. She has resigned from most of her private sector directorships and will relinquish all other remaining private sector directorships and positions to focus on these activities.

Gold Fields' non-executive director, Cheryl Carolus, will succeed Dr Ramphele as Chair of the Company with immediate effect. Ms Carolus was appointed a director of Gold Fields on 10 March 2009. She is Executive Chair of Peotona Group Holdings Ltd and is a director of Investec and De Beers, amongst others.

Dr Ramphele said: "I am pleased that during my tenure at Gold Fields significant progress has been made in entrenching the sustainability of the Company's operations worldwide. I also believe that the separate listing and unbundling of the Company's KDC and Beatrix mines into Sibanye Gold will provide the South African operations with the dedicated and focused management as well as full control over their cash flows to extend their life of mine in a sustainable manner to the benefit of investors, employees and communities.

"I would like to thank my fellow directors and the Gold Fields management team, led by CEO Nick Holland, for their support over the past two-and-a-half years. It's been a privilege working with them," Dr Ramphele said.

Dr Ramphele was appointed to the Board of Gold Fields Limited on 1 July 2010 and chaired the Board from 2 November 2010. She also served on various Board Committees during her tenure.

The Board and management of Gold Fields thank Dr Ramphele for her significant contribution to the Company and her leadership of the Board and wish her every success in her new ventures.

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