De Beers Vice President Varda Shine Stepping Down

Varda Shine, the Israeli transplant who has long been one of the most powerful people at De Beers, is stepping down from her longtime position as executive vice president of sightholder sales.

Shine, whose previous title was head of the Diamond Trading Company, will be replaced by Paul Rowley, who is currently senior vice president of midstream operations for global sightholder sales. Rowley has been with De Beers since 1983.

Shine will leave De Beers at the end of January 2014.

“Varda’s contribution to De Beers has been immense over three decades with the business and I would like to thank her wholeheartedly for her tireless commitment to the success of De Beers, its partners, and the wider diamond industry,” said Philippe Mellier, CEO of the De Beers Group of Companies, in a statement. “I am delighted to have a successor with Paul’s expertise in diamonds and experience in Africa to take Global Sightholder Sales forward.”

JCK News Director