Gold Fields Names Phillip Murnane as New Finance Chief

By Christian Moess Laursen

South African mining company Gold Fields appointed Phillip Anthony Murnane as its chief financial officer, succeeding Paul Schmidt who stepped down in late April.

The gold miner--one of the top producers worldwide--said Monday that Murnane's start date hasn't been set yet but is expected to be early next year.

Murnane has more than 20 years of experience in the resource sector, including as finance chief in several roles, Gold Fields said.

Alex Dall will continue in the role of interim CFO--a position he has held since Schmidt's departure--until Murnane's employment begins.

On Friday, the Johannesburg-based company logged a lower-than-expected net profit for the first six months of the year and cut its full-year guidance for a second time due to a slump in gold production. Shares tumbled as much as 7% as a result during the trading session.

Shares were up 1% at 264.24 South African rand in late morning trading Monday.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

August 26, 2024 05:35 ET (09:35 GMT)

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