DRDGOLD Limited (NYSE:DRD) (JSE:DRD) said that Geoffrey Campbell, its independent non-executive chairman has advised the company that he does not intend to make himself available for re-election as a member of the board when his current contract expires on November 30, 2021.
Accordingly, Campbell’s tenure as director and chairman of the board will come to an end with effect from December 1, 2021. DRDGOLD said the timing of his notification affords the company ample time to identify a suitable successor.
READ: DRDGOLD chairman Geoff Campbell says gold producer reached US$1 billion market cap in FY2020
In his notification, Campbell said, “I have been a director since June 2002 and it has been an amazing journey. Together, we have built a very successful and socially responsible company of which we can all be very proud. With our attention focused on Southern Africa and as a subsidiary of SibanyeStillwater, there is little rationale for a UK-based chairman. November would be a natural time to hand over.”
Since taking up the role of chairman in 2006, Campbell has overseen the successful disposal of DRDGOLD’s subsidiary, Emperor Mines, and guided the company in its transition from a predominantly deep-level underground gold miner to a leading surface recycling enterprise, paying a dividend to shareholders for 13 uninterrupted years and with a keen focus on social and environmental value.
The company said his crowning achievement was the successful acquisition of the Far West Gold Operations in 2019 and the 680% surge in the company’s market capitalisation for the financial year ended 30 June 2020, earning it the coveted number one spot in the Sunday Times 100 Top Companies Award in 2020.
Contact the author at jon.hopkins@proactiveinvestors.com