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TheStreet Open House

Gold Fields Appoints Senior Executives

Stocks in this article: GFI

JOHANNESBURG, March 18, 2013 /CNW/ - Gold Fields Limited (JSE, NYSE, NASDAQ, Dubai: GFI) is pleased to announce the appointment of three new senior executives to the company's Executive Committee.

Kgabo Moabelo has been promoted to Gold Fields' Managing Executive, South Africa. He was previously the Executive Vice-President for People and Organisational Effectiveness for the Group, including its international operations. His appointment took effect on March 1, 2013.

"Following the unbundling of Sibanye Gold from Gold Fields it had become necessary to review the managing structure for the South Africa Region and the South Deep mine," said Gold Fields CEO Nick Holland. "Kgabo will have full responsibility for South Deep's business and operational performance in addition to dealing with the many outside stakeholders that fall within the ambit of the company's South African operations," Mr Holland added.

South Deep is a crucial pillar in the growth of Gold Fields accounting for a significant portion of the company's Mineral Reserves and future production profile. The mine is expected to achieve its full production rate of 700,000 ounces a year by 2016.

Mr Moabelo joined Gold Fields in 2010 from Cisco Systems and has held leadership roles not only in mining but in energy, financial services and information technology.

His position as head of HR will be taken by Lee-Ann Samuel , who will become Gold Fields' Senior Vice-President, Human Resources and previously headed the company's Remuneration and Employee Benefits portfolio. Ms Samuel, who joined Gold Fields in 2009, has held a number of managerial positions at large private sector companies and has consulted widely to local and provincial government departments.

The third appointment is that of Ernesto Balarezo , who has joined the company as Executive Vice-President for South America, to replace Juan-Luis Kruger. Mr Balarezo, a Peruvian national, joins Gold Fields from Hochschild Mining, a Lima-listed mining company, where he was Vice-President, Operations. He has altogether 21 years of professional experience in the industrial and mining industry.

Mr Kruger left Gold Fields to become CEO of a privately-held mining company in Peru.

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