Gareth Penny new MD at De Beers

Johannesburg, South Africa During a De Beers strategic Leadership Forum held near Johannesburg in May, Nicky Oppenheimer announced that Gareth Penny would succeed Gary Ralfe as Managing Director of De Beers Group. Gary Ralfe is due to retire in February next year. On the succession, Nicky said: "I am confident, along with the other shareholders of De Beers, that under Gareths leadership De Beers will continue the record of performance of the past few years. I am delighted that Gary Ralfe will continue to serve as a non-executive director of De Beers SA after his retirement next year." Garth Penny, joined the Anglo American Corporation in 1988. He served as personal assistant to Julian Oglivie Thompson, then chairman of both Anglo American and of De Beers. He went on to set up, on behalf of Debswana Diamond Company, the Teemane diamond cutting factory in Serowe, Botswana. He was then appointed the manager of De Beers Strategic Review. In July last year he succeeded Gary Ralfe as managing director of Diamond Trading Company and has played the leading role in the successful implementation of Supplier of Choice, De Beers new sales and marketing strategy.