Gold Fields announces new CEO

Gold Fields said Michael Fraser will take over as chief executive officer from January, a permanent replacement for Chris Griffith, who stepped down in December.

Fraser, who is currently CEO of AIM-listed Chaarat Gold Holdings, will replace Martin Preece, who served as interim CEO since January, the Johannesburg-listed gold miner said Monday in a statement.

Fraser was previously an executive at South32 and BHP Group.

Griffith left Gold Fields in the wake of its failed attempt to take over Canadian miner Yamana Gold, denting a plan to expand in the Americas that faced opposition from some of the South African company’s own investors.