Friday May 10, 9:53 am Eastern Time
Press Release
SOURCE: The World Gold Council
Haruko Fukuda to Leave the World Gold Council
NEW YORK--(BUSINESS WIRE)--May 10, 2002--The World Gold Council announced today that its Chief Executive, Haruko Fukuda, will be leaving on June 30, 2002, shortly after the conclusion of her three year contract, which expired in March.
Soon after she took up her appointment, the British Government announced its plan to sell more than half of its gold reserves. As the price of gold fell to its lowest level in 20 years, she set about restoring credibility to gold as an important monetary reserve asset; bringing new fashionability to gold jewellery; and igniting renewed interest in gold investment. The Washington Agreement on Gold, signed in September 1999, set an historic precedent in the international co-ordination of central bank reserve management. It proved to be the turning point for the gold market in recent years. A year ago, she launched for the World Gold Council a new visual branding campaign, "Glow with Gold", to modernise gold's image and to increase its appeal in contemporary perception.
Haruko Fukuda said: "I have very much enjoyed working on gold - both an intellectual challenge and an aesthetic pleasure. I am glad to see the gold market in a far better state now than when I took over as CEO of the World Gold Council. There is a genuine mood of optimism amongst the followers of gold, quite unlike the overwhelming gloom prevailing when I first joined the Council. The tone of press articles has much improved. Gold jewellery is also making a strong return to the fashion scene and gaining market share. I would now like to move on and find a new opportunity and challenge. I wish the gold producers and the WGC continuing success."
Chairman of the World Gold Council, Chris Thompson (Chairman and CEO of Gold Fields Limited), said: "I would like to thank Haruko for the many contributions she has made to the World Gold Council and for the improved respect and recognition she has brought to this international organisation.
The World Gold Council will soon be entering a new phase in its existence and is looking to restructure and remodel itself."
Haruko Fukuda will assist with the transition until a new CEO is appointed and will remain associated with the WGC as Adviser.
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