WHEN Alan Wright was appointed the chief executive officer of Gold Fields of South Africa (GFSA) in 1995, an unnamed analyst remarked - sceptically perhaps - that his appointment, and the fact that Wright's predecessor Robin Plumbridge was to remain as non-executive chairman, meant it was likely to be "business as usual" at the mining house.

Two years later, recent events indicate the business that goes on at 75 Fox Street - GFSA's headquarters - is markedly different from the GFSA of old.

Wright took the reins at the time when GFSA was widely viewed as a takeover target for other mining houses.

Last week, Wright pulled off a coup when he successfully negotiated to merge GFSA's gold mining operations with those of Gencor, to create the world's largest gold mining company, Goldco, with a potential market value of R17-billion.

Wright got board approval to approach Gencor on August 19. Not even two months later the deal was in place.

Gencor chairman, and chairman designate of Goldco, Brian Gilbertson, says what impressed him most about Wright was the way he seemed to have the same view about what needs to be done. "We share the same commitment to releasing shareholder value."

Gilbertson says Wright took the initiative and made the proposal to Gencor. "He was decisive in the negotiations. He was very skilful during the talks and kept on top of all aspects of a very complex transaction."

Perhaps the testimony to Wright's persuasiveness and skill during the talks is the fact that Gencor will pay a 10% premium to get into GFSA directly, which, as Gilbertson says, "was very difficult for me, but I hope it will be justified by the value to be released".

Wright, a Johannesburg man, was educated at King Edward High and then at the University of the Witwatersrand, where he studied accountancy.

After serving articles with accounting firm Howard, Pim & Hardy, he worked briefly at the firm's Zimbabwe office.

In 1969, Wright swapped his beancounter hat for the world of mining, joining GFSA.

"I am not entirely sure how I drifted from auditing to the world of business. I only recall thinking that I would rather be a 'doer' than a 'checker', and that is how I found my way to GFSA."

He started as an accountant, was promoted to a manager in 1978 and became a general manager in 1984.

During this period, Wright also headed GFSA's property division, which rendered a range services to the group's mines, and the listed Gold Fields Properties, which was sold this year. In 1988, Wright became an executive director of GFSA, responsible for the group's precious metals division and later, corporate finance. He became deputy chairman in 1984, replacing Colin Fenton.

Among his various roles at GFSA, Wright chaired Northam, GFSA's troubled venture into platinum, from inception until its official opening in 1993.

In January 1995, GFSA announced that Wright would take-over as chief executive, replacing Plumbridge.

A week before he was to take-over from Plumbridge, Wright was shot in a car hijacking. He spent about two months recovering from the injuries.

On GFSA's reputed tough stance on organised labour, Wright commented recently: "We are actually very liberal in our approach. It's true we are rigid before we grant union recognition, but we insist that a union must obtain support from more than 50% of staff. But this is as much to the union's benefit as it is to GFSA. After all, when we sit at the negotiating table, it is in our common interest that both parties must be strong and confident. In the end, that produces the best results."

Wright is married to Barbara and they have four children, one son and three daughters. His hobby is collecting stamps.

The Goldco deal may just be the one that wins Wright the stamp of approval from the sceptical analyst.

Jabulani Sikhakhane

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