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De Beers Appoints Carroll as Chairman

Oct 3, 2012 7:27 AM   By Jeff Miller
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RAPAPORT... The board of De Beers Société Anonyme appointed Cynthia Carroll, the chief executive of Anglo American, as its new chairman, ending the Oppenheimer family's long tenure at the helm. Nicky Oppenheimer stepped down from the board in August after completing the sale of the family's 45 percent stake in De Beers to Anglo American for $5.2 billioncynthia carroll .

De Beers added two other members of Anglo American's executive team to its board. Brian Beamish, Anglo's group director of mining and technology, who has more than 30 years of mining experience across base and precious metals; and Peter Whitcutt, Anglo's group director of strategy and business development, who has more than 20 years of experience join Carroll on the board.

Carroll said, “I am honored to accept the role of chairman of this great company. Anglo American has been a shareholder in De Beers since 1926. That shared history between Anglo American and De Beers has given me a deep appreciation for the business and the unique nature of diamonds. I look forward to leading the board and continuing to support the management of the world’s leading diamond company.”

Philippe Mellier, the chief executive of De Beers, added, “I have worked closely with Cynthia since joining the company. De Beers is fortunate to have a chairman of Cynthia’s caliber, and to add Brian and Peter’s extensive industry experience to the Board. Personally, I look forward to their continued counsel and leadership as we find new ways to enhance De Beers’ leadership position across the diamond pipeline.”

Tags: de beers carroll anglo american board, Jeff Miller
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