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Petra Names New Chairman

Dec 17, 2019 6:21 AM   By Rapaport News
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Petra Diamonds has appointed Peter Hill as non-executive chairman, succeeding company founder Adonis Pouroulis, who is stepping down, the company said Tuesday.

Hill is currently non-executive chairman of geotechnical contractor Keller Group and of building-products company Volution Group. He will begin with the miner as non-executive director and chairman-designate on January 1, and will become non-executive chairman on March 31, when Pouroulis leaves. Hill has also worked at Anglo American and Rio Tinto.

“[Peter] brings an impressive track record of chairmanships and board memberships across a range of global companies, industries and organizations, built on his earlier career in the mining industry, including southern Africa, in underground and open-pit operations,” said Pouroulis. “I am personally delighted that someone of Peter’s caliber and experience will be succeeding me as chairman.”

The move is part of the last phase of Petra’s three-year succession plan, which is entering its final year. The plain aims to establish Petra as a leading independent diamond producer, and has included a review of its board, committee and senior-management structures. Richard Duffy was hired as CEO to replace Johan Dippenaar earlier this year.

Pouroulis founded the company in 1997. However, at an annual general meeting in March, more than 22% of Petra’s shareholders voted to oust him as chairman. Petra decided to keep him at the time to ensure stability while a new CEO came on board.

Image: Peter Hill. (Petra Diamonds)
Tags: Adonis Pouroulis, Anglo American, Johan Dippenaar, Peter Hill, petra, Petra Diamonds, Rapaport News, Richard Duffy, Rio Tinto
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