International Panel Judges
Group CFO/Finance Director, Sibanye Gold Limited
Charl Keyter is a CIMA-qualified Chartered Global Management Accountant (CGMA) and holds a MBA Degree. He has been the Group CFO and Executive Director of Sibanye Gold, the largest South African gold producer, since 2013. Sibanye Gold is a dual listed group –ranked in the Top 40 index of the Johannesburg Stock Exchange (JSE), and on the New York Stock Exchange (NYSE). Charl has twice -2016 and 2017, been nominated as South Africa’s CFO of the Year. Under his financial guidance, Sibanye Gold recently completed a US$2.2 billion purchase of US-based Montana, positioning it as the world's 4th largest producer of precious metals. Charl also serves on the audit committees of both the Chamber of Mines of South Africa and the World Gold Council.
Charl started his mining career with Gold Fields SA, serving in various roles including Acting Senior Finance Manager for the Venezuela operation. In late 2006, he was appointed Head of Finance for the South African Region; and in 2010, he became Gold Fields’ Head of Finance for International Operations; from where he was instrumental in the unbundling of Gold Fields’ South African operations, after an extensive portfolio review, ultimately culminating in the formation of Sibanye Gold Limited.
Why did we select Charl to serve on our international panel of judges and as Chief Judge?
Our 2017 case company –AMANGO, is a dual-listed global metals and mining giant -just like Sibanye Gold Limited. Amongst others, it is faced with a strategic Joint Venture decision in Canada; a strategic disposal in Brazil; a balance sheet de-leverage and political risk decision in South Africa; operational safety risk in Australia, and how to deal with labour unrest: one threatened, and another one –a protected strike in motion, both with group-wide escalation and adverse cost control challenges. In the wake of a global recession and commodity price plunge, AMANGO is also faced with a strategic corporate reconstruction and re-organisation decision! These are the typical strategic challenges in the mining sector that Charl has had to deal with over the last decade. For instance, he has had to grapple with aggressive cost-cutting with large scale labour right-sizing and lay-offs -similar to what AMANGO seeks to effect in Australia -and across the group. Charl’s experience in the Audit Committee of Chamber of Mines and the World Gold Council gives him a deeper appreciation of the broader strategic risks facing the industry, and the relevant strategic collaboration bodies AMANGO can leverage-off, in order to manage government and political risks in its key markets!
Charl’s experience in unbundling Gold Fields’ South African operations is certainly the kind of insight that will be required to probe the teams on the corporate reconstruction and restructuring decision that is before the AMANGO Board. Given the unique challenges the global metals and mining industry invokes, it was critical that The CFO Project Board go out to head-hunt a very accomplished senior international executive, with the sophisticated understanding and knowledge of the global mining industry, to serve as the overall Chief Judge – to ensure a vital industry perspective is always maintained in evaluating the recommendations and responses from the teams on stage!
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