21 May 2019
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Gareth Penny puts in resignation as De Beers' CEO
The company is yet to find a suitable replacement
By: Diamond World News Service
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Jul 23 2010 2:56PM
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Reference: 5159  

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De Beer’s chief executive officer (CEO) Gareth Penny, has announced his resignation, and will step down in the coming months, concluding his five years at head of the company. Having led the company during the recession and subsequent recovery, Penny stated it was the right time for him to step down.

While the Board noted Penny's "substantial contribution", Nicky Oppenheimer, Chairman of De Beers Group praised Penny as a "passionate and effective leader." The mining major has announced that Chief Financial Officer Stuart Brown and Chief Commercial Officer Bruce Cleaver will serve as acting joint-CEOs until a new CEO is appointed.

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