Ian Cockerill to leave Gold Fields

Gold Fields chief executive officer Ian Cockerill is to step down from his position, the company’s board said on Monday.

“After a distinguished nine years with Gold Fields, the last six as chief executive officer, Ian Cockerill has decided to step down.

“He will be joining a company outside of the gold industry field, the name of which will be announced later in the week,” the board said in a statement.

Cockerill will be succeeded by Nick Holland who has been the chief financial officer of the company.

Terence Goodlace, executive vice-president and head of South African operations, will be appointed to the new position of chief operating officer, and as a member of the Gold Fields board.

A new chief financial officer will be recruited to replace Holland, the board said.

The board also said that unrelated to Cockerill’s resignation, John Munro, executive vice-president of corporate development, had resigned to take up the position of chief executive officer of a new uranium company.

“John’s executive responsibilities for corporate development will be assumed by Jimmy Dowsley, senior vice-president for business development,” Gold Field’s board said.

In a supporting move, Juan Luis Kruger, senior vice-president and head of operations in Peru, will be appointed to the Gold Fields executive committee, to head up South American operations.

The board said that while it was “sad” at Cockerill’s move, “we respect his decision to move on. We thank Ian for the outstanding contribution that he has made to Gold Fields, and wish him well in the next phase of his career.”

Cockerill said: “The decision to leave Gold Fields was not an easy one but I have always believed that a CEO has a shelf life of about six to seven years.

“As Gold Fields enters the next and very exciting phase of its growth and development ... it is time for a fresh hand at the rudder. As a substantial shareholder I am very comfortable with the new leadership appointed by the board.” - Sapa

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