Johannesburg - Gold producer Goldfields has reduced its number of directors from 12 to nine, the company said on Wednesday.
“In light of the company's new strategic direction and the challenges presented by the current low gold price and high cost operating environment, the board has decided to reduce the number of directors,” the company said in a statement.
Delfin Lazaro, Roberto Danino, and Rupert Pennant-Rea volunteered to resign as non-executive directors and agreed to step down from the board with immediate effect.
Pennant-Rea and Danino acted as chairmen of the remuneration committee and the social and ethics committee respectively, the company said.
“Mr Lazaro has done an admirable job in representing the company's interests in the Philippines and he will continue to do so following his resignation.”
Non-executive directors Donald Ncube and Alan Hill would take over as chairmen of the social and ethics committee and the remuneration committee respectively.
The Goldfields board is chaired by former SA Airways chairwoman Cheryl Carolus.