JOHANNESBURG, March 24 /PRNewswire-FirstCall/ -- Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced that it intended to reorganize and further strengthen its executive team. Nick Holland, Chief Executive Officer of Gold Fields, said: "Given Gold Fields' international growth and regionalization strategy, our expanding footprint around the globe has required a strengthening and reorganisation of the Group's executive team." Over the last few months the Group has seen further growth with its new Cerro Corona mine in Peru and the expanded CIL Plant at Tarkwa in Ghana. In addition, the Group's exploration efforts are also starting to bear fruit with promising developments on at least three exploration properties in southern Peru, Kyrgyzstan, and Mali in West Africa. In order to accommodate Gold Fields' growing international footprint, and the attendant challenges, the international portfolio, which is currently headed up by Glenn Baldwin, will be split into three separate portfolios, each headed up by an executive who will be a member of the Group Executive Committee and report to the Chief Executive Officer. - The Australasia Region will be headed up by Glenn Baldwin as Executive Vice President and Head of the Australasia Region. Located in Perth, Glenn will take responsibility for the two existing mines in Australia, St Ives and Agnew, and will work with the business development and exploration executives to try and grow production in Australasia to one million ounces per annum over the next three to five years. - A new position will be created for an Executive Vice President and Head of the West Africa and South America Regions. The incumbent will take responsibility for the Tarkwa and Damang mines in Ghana, West Africa, as well as the Cerro Corona mine in Peru, South America, and will work with the business development and exploration executives to try and grow production in these two regions to a million ounces per annum each. - A new position will be created for an Executive Vice President and Head of International Projects. The incumbent will be responsible for the overall coordination and control of all international capital projects as well as the international technical group. In the South Africa Region the South Deep Project is gaining momentum while the evaluation of the Uranium Project, or the "5th mine" in the South African portfolio, is progressing rapidly, with an investment decision expected early in 2010. In order to strengthen the South African regional team, a new position will be created for a Senior Vice President - Capital Projects (South Africa), who will take responsibility for all capital projects in South Africa, including the South Deep and Uranium projects, as well as the technology drive in the South Africa Region. The incumbent will report to Vishnu Pillay, Executive Vice President and Head of South Africa Region. Recruitment for all three positions is underway. "These changes will position Gold Fields well for the exciting challenges that lie ahead and provide us with additional management strength," said Holland. Following the reorganisation, the Group Executive will comprise the following: Chief Executive Officer: Nick Holland Chief Financial Officer: Paul Schmidt Head of South Africa Region: Vishnu Pillay Head of Australasia Region: Glenn Baldwin Head of West Africa and South America Region: To be appointed Head of International Projects: To be appointed General Counsel Michael Fleischer Head of Business Development: Jimmy Dowsley Head of Exploration: Tommy McKeith Head of Human Resources: Italia Boninelli Head of Investor Relations: Willie Jacobsz Company Secretary: Cain Farrell About Gold Fields Gold Fields Limited is one of the world's largest unhedged producers of gold with attributable production of 3,64 million ounces per annum from eight operating mines in South Africa, Ghana and Australia. A ninth mine, Cerro Corona Gold/Copper mine in Peru, commenced production in August 2008 at an initial rate of approximately 375,000 gold equivalent ounces per annum. Gold Fields aims to reach a production rate of approximately 4.0 million ounces per annum during the March quarter of 2009. The company has total attributable ore reserves of 83 million ounces and mineral resources of 251 million ounces. Gold Fields is listed on the JSE Limited (primary listing), New York Stock Exchange (NYSE), NASDAQ Dubai Limited (NASDAQ Dubai), New Euronext in Brussels (NYX) and Swiss Exchange (SWX). For more information please visit the Gold Fields website at http://www.goldfields.co.za/. DATASOURCE: Gold Fields Limited CONTACT: Enquiries: Willie Jacobsz, Mobile: +857-241-7127; Nikki Catrakilis-Wagner, Mobile: +27(0)83-309-6720; Marritt Claassens, Mobile: +27(0)82-307-3297

Copyright