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Gold Fields recognises that remuneration is a critical part of value creation. We are committed to aligning our employees' remuneration to our strategic objectives, as embodied in our Group Business Scorecard (BSC). The Group BSC is then cascaded into individual scorecards, to ensure individual effort drives Group performance. Below is a summary of our CEO Nick Holland's BSC for 2019 and his performance against it. His average score for 2019 was 3.8 out of 5, as evaluated by the Remuneration Committee. The Board believes that by reflecting on the CEO's scorecard and how it drives value creation, we demonstrate to our stakeholders our commitment to fair and transparent reporting. Performance against individual BSC targets informs 35% of the CEO's annual performance bonus, while his performance against the Group BSC targets inform the remaining 65% (which includes sustainability-related targets).
out of 5
|10%||Improve liquidity by reducing net debtTarget: US$100m debt reductionStretch target: US$150m debt reduction||Net debt reduced by US$281m to US$1,331m (pre-IFRS 16)||5|
|INTERNAL BUSINESS PROCESS|
|15%||Deliver the 2019 South Deep business plan through disciplined execution and improved productivity.Target: 477t mined/employee||
|15%||Improve internal business planning processes at South Deep by achieving 85% compliance to the mining plan.||
|10%||Delivery of the Gruyere project||
|Delivery of Gruyere project capital cost.
|10%||Delivery of Damang project to the following targets:
|5%||Improve governance, compliance and risk by ensuring that there are no material deviations from 2019 compliance guidelines.||
|10%||Develop leadership competency framework aligned with strategic objectives and values to improve people capacity and culture||
|10%||Apply 360o "Living the Values" assessment in our performance assessment tool||
|OVERALL PERFORMANCE RATING|