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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.

Ref: <a href="http://diamondworld.net/contentview.aspx?item=5159" target="_blank">DiamondWorld.net</a>

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