Managing Director of De Beers Consolidated Mines Resigns
February 25, 10
David Noko, managing director of
De Beers Consolidated Mines (DBCM),
will step down
David Noko, managing director of De Beers Consolidated Mines (DBCM), is stepping down, De Beers announced Wednesday. Noko is leaving De Beers South African mining group after eight years with the company, four of which he served as its managing director.
Noko will leave at the end of March 2010 and Barend Petersen will be appointed acting CEO from the beginning of April 2010. Petersen will serve while the process to appoint the permanent CEO is finalized, De Beers stated.
Peterson is a chartered accountant with broad business and commercial experience. He is a non executive director of Anglo American South Africa and also owns a stake in Ponahalo Investment Holdings, the black empowerment company. Ponahalo Investment Holdings has a joint 50 percent stake in Ponahalo, which owns a 26 percent equity interest in De Beers Consolidated Mines.
“The time is right for me to step aside so that a new leader can take DBCM on the next phase of its transformational journey,” Noko said. “I have confidence in the future of DBCM – the company has demonstrated resilience in the face of the recession, and is emerging ready for the next stage in its evolution.”
“David has led DBCM through a remarkable and important journey – filled with challenges and successes,” said Nicky Oppenheimer, chairman of DBCM. “With his passion, dedication and visionary leadership he has transformed the company so that DBCM represents the best in