Dominion Diamond CEO to step down

Dominion Diamond Corporation’s Chief Executive Officer (CEO) of the Company and a member of the Board of Directors - Mr. Brendan Bell will step down from his role, the company announced, Mr. Bell has agreed to continue to serve in his role as CEO of the company until June 30, 2017 allowing time to find a successor and have a seamless transition in management. The Nominating & Corporate Governance Committee of the Board of Directors has begun the process of identifying potential candidates to assume the role of CEO, and has engaged Korn Ferry in this regard.

Mr. Bell stated, “Both the Board of Directors and I agreed that this is an appropriate time for me to hand the reins to someone else. The decision to move the corporate offices of Dominion from Yellowknife to Calgary was necessary in order to reduce operating costs and support the long-term strength of the company, and is one that I continue to support. For personal reasons, however, this is not the right move for my family. It has been a pleasure working with the company’s senior management team, and I will continue to do so until a successor has been identified.”

Mr. Jim Gowans, Chairman of the Board of Directors thanked Mr. Bell on behalf of the Board, for his contributions to Dominion and for his role as Chief Executive Officer. He noted that “The Board will be working closely with Brendan and the senior management team during the transition period, while the company continues to focus on increasing shareholder value through improved operations, optimizing capital allocation and growth, and other strategic opportunities.”