De Beers CEO Gareth Penny announces plans to step down
De Beers CEO Gareth Penny has announced his intention to step down from the post, while the diamond company has revealed strong trading results for the first half of 2010.
Penny, who has led the South African company for the past five years and spent 22 years working for the organisation, will step down in the coming months. Chief financial officer Stuart Brown and chief commercial officer Bruce Cleaver will act as joint CEOs while his replacement is found.
De Beers issued a statement today revealing the news. The company board said: “The board would like to thank Gareth for his substantial contribution to De Beers during his 22 years with the company, and wishes him every success as he pursues new opportunities.”
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