Posted on July 23, 2010
De Beers CEO Gareth Penny advised the De Beers board that “he believes it is an appropriate time for him to step down,” according to a De Beers news release.
Penny led De Beers for five years and worked for the company 22 years. The statement said Penny would be stepping down “in the coming months” and announced that a process was under way “to identify a successor.”
In the interim, chief financial officer Stuart Brown and chief commercial officer Bruce Cleaver were to serve as acting joint CEOs.
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