Johannesburg - Gold Fields chief executive Nick Holland has offered to waive his bonus after an investigation into the company's BEE transaction at its South Deep mine, the company said on Thursday.
“In recognition of the concerns which have been generated around the BEE transaction relating to South Deep, chief executive Nick Holland has offered to waive his bonus in respect of the 2013 financial year end,” Gold Fields said in a statement.
The investigation revealed the transaction was not consistent with company standards.
The company's board initiated the investigation into the Black Economic Empowerment (BEE) transaction in December 2012 after it was questioned in media reports.
In March, Business Day newspaper reported that Gold Fields's former chairwoman Mamphela Ramphele said the government had shoved a list of BEE shareholders down the company's throat, with an ultimatum that if the preferred names were not taken on board it would be denied a mining licence.