Gold Fields CEO Griffith Steps Down After Failed Yamana Bid (2)

Gold Fields Ltd. said Chief Executive Officer Chris Griffith is stepping down after the South African company’s failed attempt to take over Canadian miner Yamana Gold Inc.

Griffith, 57, who was appointed CEO in April last year, is leaving at the end of the month after the company’s bid to buy Yamana was scuppered by two rivals, denting a plan to expand in the Americas. Martin Preece, 54, who runs Gold Fields’ South Deep mine, becomes interim CEO at the bullion producer.

“The Yamana setback should not be allowed to impede the company’s strategy,” Griffith said in a statement. ...