De Beers Group CEO steps down after five years

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The De Beers Group has announced the appointment of Bruce Cleaver as chief executive officer, following Philippe Mellier’s decision to step down after five years with the company.

Bruce Cleaver served as De Beers’ executive director responsible for strategy and commercial relationships until 2015, also serving as co-acting CEO for a year prior to Philippe Mellier’s appointment in 2011. He was appointed group director of strategy and business development for Anglo American in 2015.

Mark Cutifani, chief executive of Anglo American and chairman of De Beers, comments: “Together with our partners in De Beers, we congratulate Bruce Cleaver on his appointment as CEO of De Beers Group following Philippe Mellier’s decision to step down. Bruce’s leadership of De Beers’ strategy and its commercial and government relationships working alongside Philippe and over much of the last decade, combined with his time working with us to shape the new Anglo American strategy, provide strong continuity at an important stage in the diamond market’s recovery. The structural dynamics of the diamond market continue to improve, led by the strength of consumer demand for diamond jewellery. With the proven management team in place, De Beers is well positioned to maximise value for all its stakeholders across the diamond value chain.”

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Cutifani adds: “Philippe has led De Beers with great agility, transforming the company’s strategic and operational mindset with a strong customer focus to ensure that consumer desire for diamond jewellery is at the very heart of decision making across the diamond pipeline. He has navigated through structural change and considerable market volatility over the last five years, while cementing De Beers’ unquestioned leadership position. We wish him all the very best in his future endeavours.”

Cleaver will begin his role as CEO on July 1 2016.

Philippe Mellier says: “I have been privileged to lead such an iconic company as De Beers with its rich history, great people and culture, and truly unique product offering. As I committed at the outset in 2011, I envisaged a five year plan with the team and the board to reset De Beers on its current path. Having steered through some of the diamond industry’s toughest times and with the market showing signs of recovery, now is the right time for me to pass the baton to the next generation. I have worked closely with Bruce Cleaver throughout and I have no doubt about his abilities and experience to lead De Beers on the next stage of its journey as the world’s leading diamond company.”

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