Griffith will leave his role effective Dec. 31, a month after the South African gold miner’s planned acquisition fell through, the company said. Gold Fields shares were down 5 per cent by 0953 GMT.
Two top Gold Fields shareholders, Red Wheel Capital and VanEck, had publicly opposed the deal, which was scuppered last month when Yamana backed a rival $4.8-billion takeover bid from Agnico Eagle and Pan American Silver Corp. Preece will join the company’s board of directors on Jan. 1 and has its full support, Gold Fields said. Griffith, who joined Gold Fields in April 2021, will also step down from the board.
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