Barend Petersen Appointed DBCM CEO

De Beers announced today (Thursday) that Barend Petersen has been appointed as the CEO of De Beers Consolidated Mines (DBCM) effective April 1. He succeeds David Noko who stepped down at the end of March.

Petersen also heads the South African mining interests of the De Beers family of companies and was appointed to the DBCM board in August 2002.

He is joining from DBCM’s empowerment shareholder, Ponahalo Investment Holdings. According to DBCM Chairman Nicky Oppenheimer, Petersen brings new insights to the company and is another first for De Beers.

“We are embarking on the next stage of the strategic journey of this iconic company,” Petersen said in a release. “We will continue to improve on our efficiencies in both financial and production terms, containing costs while increasing production to meet the rising demand for diamonds.

“We recognize that the strong local currency adds rigor to the challenges facing management. The reality of the strong Rand is one we must manage in order to succeed in achieving our business sustainability strategy which we are currently engaged in developing.”