Former De Beers executive Varda Shine has become interim chair of the board at Petra Diamonds, the company announced.
She will lead the search for a permanent chair and also serve as chair of Petra’s nomination and investment committees. She has been a Petra board member since 2018.
Shine is probably best known in the industry for heading De Beers’ Diamond Trading Company (DTC) from 2006 to 2014. Prior to that, she spent two decades at various De Beers subsidiaries, including DTC Botswana, DTC Namibia, and Diamdel, according to LinkedIn.
Shine is also a non-executive director at Sarine Technologies as well as senior independent director at Ecora Resources. She was the first woman awarded honorary lifetime membership in the Israel Diamond Exchange, and in 2011 she was inducted into the Women’s Jewelry Association Hall of Fame.
Peter Hill, a veteran of Rio Tinto and Anglo American who’d been Petra board chair since January 2020, opted not to run for reelection. In a statement, Shine credited Hill with “steer[ing] Petra through the pandemic and the company’s successful financial restructuring.”
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