Debswana Confirms Blackie Marole’s Departure

Blackie Marole

(IDEX Online News) - Blackie Marole, Managing Director of Debswana, has today announced his intention to retire from Debswana after six years of service. As first reported by IDEX Online, Marole's departure may have been forced by one of the company’s shareholders.

It was only a year ago that Marole signed a second five-year contract to manage the 50/50 De Beers joint venture with Botswana. His departure could be linked with the organizational review at Debswana and that Marole may be the first of a number of senior casualties.

In a release sent to local media, Debswana said, “having steered Debswana through many challenges, the biggest of which being the recent global economic crisis, the Board accepted Mr. Marole’s resignation, expressing gratitude for his service and agreeing that it was the right time for new leadership to tackle Debswana’s current and future challenges.

“Debswana possesses world class diamond assets and, in a post-recessionary environment in which growth in the world’s major consumer markets remains fragile, Debswana must complete a broad operations review to secure its long-term future and ensure it is maximizing the value and life of Botswana's diamonds. Mr. Marole will hand over the leadership of Debswana once a successor is identified and on board.”