Archive

  • De Beers Group today announced three changes to its Executive Committee. Neil Ventura, currently Executive Vice-President, Auction Sales, will become Executive Vice-President, Strategy and Innovation. Paul Rowley, currently Executive Vice-President, Global Sightholder Sales, will become Executive Vice-President, Diamond Trading. Alessandra Berridge, currently Lead Legal Counsel for M&A at Anglo American, will become Executive Vice-President, Commercial and Partnerships.

  • ALROSA President Sergey Ivanov signed an order on disciplinary sanctions to the company management who committed violations of industrial safety requirements that conduced to the disaster at Mir mine on August 4, 2017. Director and Chief Engineer of ALROSA’s Mirny Mining and Processing Division are suspended from their positions with subsequent dismissal from the company. On the financial side, net income fell 51% year on year to $219.6 million (RUB 12.95 billion) for the three months ending September 30.

     
     
     
     
     
     
  • Dominion Diamond Corporation and The Washington Companies yesterday announced the completion of the latter's takeover of the Canadian diamond miner, officially acquiring all of the issued and outstanding common shares of Dominion for US$14.25 per share in cash. In total it amounted to a $1.2 billion acquisition. Dominion will operate as a standalone, private company, and Patrick Evans has been appointed Chief Executive Officer, effective immediately.

  • Reuters news agency reports that Patrick Evans, the former chief executive of Mountain Province Diamonds, will become the new CEO of Dominion Diamond Corp once a deal to purchase the Canadian diamond company closes later this year, he said on Wednesday. Dominion, the world's third largest diamond producer by market value, has been looking for a CEO since January when its former head, Brendan Bell, quit. Last month Dominion agreed to a $1.2 billion takeover offer from U.S. billionaire Dennis Washington that will take private the Canadian-based diamond miner.

  • Palllinghurst Resources, following its recent takeover of Gemfields, has appointed Sean Gilbertson as new CEO for the colored gemstone miner as it commences the acquisition process. The move follows the resignation of Gemfields' non-executive directors, including that of CEO Ian Harebottle, who has held the position for the last eight years. Harebottle, as well as the resigning board members, was highly crititical of the takeover, saying it "significantly undervalued" the company.

  • Jewelers of America has elected Pittsburgh jeweler John Henne, president of Pittsburgh-based Henne Jewelers, as its next board chairman, succeeding Ryan Berg. Henne has managed Henne Jewelers, which his great-grandfather opened in 1887, since 1998. He oversees all aspects of the business, including diamond procurement, accounting, sales and marketing. JA President and CEO David J.

  • Signet Jewelers Limited today announced that its Board of Directors has appointed Virginia "Gina" C. Drosos, who has served as an independent director of the Company’s Board since 2012, as the new Chief Executive Officer of Signet, effective August 1, 2017. She is taking over the reins from Mark Light, who has served as CEO of Signet since 2014; he decided to retire after more than 35 years with the company due to health reasons, the company said in a statement.

  • Members of ALROSA Supervisory Board voted to re-elect Anton Siluanov, Minister of Finance of the Russian Federation, as Chairman of the Supervisory Board, the company announced in a press release last Friday. Siluanov has been a member of the Supervisory Board since 2014 and Chairman since 2015. He is also Chairman of the Supervisory Council of VTB Bank, member of the Board of Directors of Russian Export Center, the Board of Governors of the New Development Bank and a long list of other appointments.

  • Tiffany & Co. announcd Thursday that it has named veteran luxury industry executive Alessandro Bogliolo as its next chief executive officer. Bogliolo most recently served four years as the chief executive of apparel and accessories company Diesel, and his resume includes 16 years at luxury jeweler, Bulgari, including in the roles of chief operating officer and executive VP of Jewelry, Watches & Accessories.

  • Mountain Province Diamonds - a 49% participant with De Beers Canada in the Gahcho Kué diamond mine - today announced that CEO Patrick Evans has left the company, and has appointed David Whittle as interim president and CEO. According to a company statement, Evans' departure was a mutual decision. Evans served as CEO of Mountain Province for 11 years, and will continue as a director of the company as well as provide assistance to facilitate the transitional period. 

  • Diversified miner and 85% owner of De Beers, Anglo American, has appointed Stuart Chambers to succeed John Parker as the miner's next chairman and carry on with its overhaul, the company announced in a press release. Mr. Chambers does not bring mining experience to Anglo; rather he was Chairman of UK-based IT and IP (intellectual property) firm ARM Holdings and of multinational consumer packaging company Rexam plc (now Ball Corporation) until 2016.

  • The 36-year-old son of one of Russian President Vladimir Putin’s close allies, Sergey Ivanov, acknowledges that some people may be skeptical about how he landed his latest job as CEO of the world's largest diamond mining company, write Bloomberg reporters Yuliya Fedorinova and Irina Reznik, but he is learning the trade and, "plans to win over investors by focusing on reducing costs at the state-controlled diamond producer." And his cost-cutting starts at the top, as Ivanov says he, "reduced my salary and overall compensation by 20 percent" and apparently declined certain benefits t

  • Singapore’s Sarine Technologies announced that former CEO of De Beers Diamond Trading Company (DTC) Varda Shine is to join the Board of Directors as an independent director. Shine’s position is subject to approval at Sarine’s annual general meeting to be held on April 25. 

  • Tiffany & Co. announced it would appoint three new independent directors to join its board of directors, making a total of 13 members. Roger Farah, James Lillie and Francesco Trapani will join the board as part of an agreement between Tiffany and stakeholders Jana Partners. “We are excited to be adding such distinguished directors to our Board as part of our ongoing process to refresh the Board, and we are pleased to have worked cooperatively with JANA Partners to have met our objective,” says Chairman Michael Kowalski.

  • 179-year-old Tiffany & Co. has made headlines recently, launching a new ad campaign featuring Lady Gaga - who rocked the Super Bowl halftime show - and quietly dropping CEO Frederic Cumenal.  Cumenal was let go due to his inability to turn around the dropping sales figures since taking over in April 2015.

  • Tiffany & Co.’s Chief Executive Officer, Frederic Cumenal, has decided to step down from his post. The Board of Directors is actively searching for a successor, but until then, former CEO Michael J. Kowalski will serve as Interim CEO while continuing as Chairman of the Board of Directors. In a statement, the company said the decision was based on its disappointing financial results and that the brand needed to improve its performance.

  • Upscale jeweler Tiffany & Co. has appointed Mark Erceg to become its next executive vice president and chief financial officer, responsible for the company's worldwide financial, indirect procurement and information technology functions.  His appointment will become effective on October 18. He replaces Tiffany's former chief financial officer who left in May. Erceg comes to Tiffany's from outside the jewelry industry, having been the CFO and executive vice president at Canadian Pacific Railway since May 2015.

  • Rockwell Diamonds Inc. said that James Campbell, the Chief Executive Officer, has tendered his resignation and in an unrelated development, that Stephen Dietrich and Rick Menell have also tendered their resignations as directors. A special board committee undertook a strategic review on August 28 with the aim of evaluating the positioning of Rockwell as well as the effectiveness of defined strategies that were recently implemented by the company.

  • De Beers has appointed Nigel Simson, currently Senior Vice President of Sightholder Sales, to head a new product planning role, Senior Vice President of Product Planning, that aims to establish closer integration between sales, product planning, and product delivery "enabling the delivery of more tailored product and service offerings for rough diamond customers". Bernard Bradley will take over from Simson as Senior Vice President of Sightholder Sales. They will both be based in Gaborone, Botswana, and will work closely with Paul Rowley, Executive Vice President of Sightholder Sales.

  • Russian diamond miner ALROSA plans to increase its reserves by 50.4 million carats this year, ITS head geologist, Konstantin Garanin, said in an interview for the corporate publication Vestnik Alrosa, AS REPORTED BY Interfax. The growth will come about by exploration of the Zarya field and follow up exploration at the Aikhal and Verkhne-Munsoye fields, he said.
    Overall financing for geological exploration by the ALROSA group will total close to $100 million in 2016.

  • De Beers Group CEO Philippe Mellier is stepping down after five years with the company and will be replaced by Bruce Cleaver with the new appointment taking effect on July 1. Philippe Mellier said: “As I committed at the outset in 2011, I envisaged a five year plan with the team and the Board to reset De Beers on its current path.

  • Pure Grown Diamonds CEO Lisa Bissell has left the company after two years, a spokesperson told JCK. Formerly known as Gemesis, the privately held company based in New York manufactures Type IIa, gem-quality laboratory grown diamonds and manufactures jewelry. Bissell’s two-year contract had ended, the company said, while not providing any details on her replacement. It also said that it has taken on 35-year industry veteran Alan Cohen as vice president of sales.

  • Tiffany & Co. Chief Financial Officer Ralph Nicoletti will leave the company at the end of next week, just two years after joining the luxury jewelry retailer, to become the finance chief at a non-jewelry firm. Nicoletti’s resignation is effective as of May 20. Nicoletti’s total compensation at Tiffany in 2015 was $2.7 million, compared with $5.7 million in 2014, his first year at the company, The Wall Street Journal reported.

  • Dominion Diamond Corp said that Robert Gannicott has retired as Chairman, with Jim Gowans appointed as non-executive Chairman of the Board of Directors with immediate effect. Gannicott will remain as a director of the company. Gowans was appointed to the Board of Directors on January 13. He has extensive operational experience in many aspects of the mining industry, including exploration, major projects, operations and human resources as well as extensive leadership experience both in Canada and internationally. Gannicott headed the firm for 12 years.

  • Diamond firm Hearts On Fire (HOF) has appointed luxury industry veteran Stephane Barraque as its new Global Chief Revenue Officer. The role was created to lead all commercial activities for Hearts On Fire globally, and support the further development of the brand globally through wholesale, retail, e-commerce, and joint venture channels. With more than 25 years of experience in the development of luxury brands, Barraque will also be responsible for identifying new global business opportunities.

  • De Beers Consolidated Mines (DBCM) is “boldly confronting” its and the industry’s 140-year legacy of male domination in mines and in corporate structures by executing a strategy to ensure equal opportunities for women in its own business. The comments were made by DBCM director and the company’s Sightholder Sales South Africa senior VP, Nompumelelo Zikalala, and organizational effectiveness lead Varsha Morar at training and conference company Intelligence Transfer Centre’s recent seventh annual Women in Mining conference held in Johannesburg, reported Mining Weekly.

  • Leo Schachter Diamonds has appointed Joseph Green executive vice president of sales. Green was previously senior vice president at jewelry firms Frederick Goldman and Ritani. Leo Schachter Diamonds said in a statement that Green would be part of its independent retail channel.

  • The Israel Diamond Exchange (IDE) has appointed Eli Avidar, the Managing Director of the Israel Diamond Institute, as its new Managing Director, effective immediately. Avidar replaces Moti Besser who completed two terms as Managing Director. Avidar served as the IDI's Managing Director since January 2007, and was previously in Israel's Foreign Service.

  • Peregrine Diamonds Ltd. says that Brooke Clements has stepped down as President and CEO of its wholly owned subsidiary, Peregrine Exploration Ltd. Peregrine Exploration Chairman Eric Friedland has been appointed President and will remain Chairman. Clements has been President and CEO of Peregrine Exploration since last February. From 2007 through January 2015 he was President of Peregrine Diamonds. During that period, he led the company through the discovery and evaluation of the Chidliak diamond project in Nunavut. Clements will continue to act as a consultant to the company.

  • Nimesh joins from Anglo American where he was Group Head of Corporate Finance and succeeds Gareth Mostyn who will take up the role of Executive Head of Strategy and Corporate Affairs in the New Year. Prior to joining Anglo American, Nimesh spent 15 years in investment banking at JPMorgan and as a Managing Director at UBS.

  • Rudy Chavez, veteran president of Baume & Mercier North America, is leaving the watch brand to become a vice president of Cartier, JCK reports. Chavez joined Baume & Mercier in 2003 as vice president of sales and president of its North American unit three years later. Neither Baume & Mercier nor Cartier officially commented, JCK added. Early last month, Cartier's parent company, Compagnie Financière Richemont, announced that CEO Stanislas de Quercize would step down for personal reasons, effective immediately.