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. Having steered through some of the diamond industry’s toughest times and with the market showing signs of recovery, now is the right time for me to pass the baton to the next generation.” Mark Cutifani, Chief Executive of Anglo American and Chairman of De Beers, added: “Philippe has led De Beers with great agility, transforming the company’s strategic and operational mindset with a strong customer focus to ensure that consumer desire for diamond jewelry is at the very heart of decision making across the diamond pipeline. He has navigated through structural change and considerable market volatility over the last five years, while cementing De Beers’ unquestioned leadership position.”
Bruce Cleaver served as De Beers’ executive director responsible for strategy and commercial relationships until 2015, also serving as Co-Acting CEO for a year prior to Philippe Mellier’s appointment in 2011. He was appointed Group Director of Strategy and Business Development for Anglo American in 2015. Cleaver said: "As the world continues to evolve ever more rapidly, it is our task to ensure that we remain as relevant as we are today and to grow our position in the luxury world."