Gareth Penny Named Next Managing Director Of De Beers
May 18, 05 by Chaim Even-Zohar
The 42-year old Managing Director of the DTC, Gareth Penny, will become the next Managing Director of De Beers. At a De Beers’ Strategic Leadership Forum near Johannesburg, De Beers' Chairman Nicky Oppenheimer made the surprise announcement that “Gary Ralfe has confirmed his intention to retire in February 2006 and would be succeeded by Gareth Penny.”
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Gareth Penny
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Surprisingly, no announcement was made as to who will then become the new Managing Director of the Diamond Trading Company (DTC), although the early betting is on Marketing Director Steven Lussier, with Sales Director Varda Shine in a close second place.
Gareth Penny’s ascension to the top position has been truly meteoric. He joined Anglo American Corporation in 1988. He served as Personal Assistant to Julian Ogilvie Thompson, then Chairman of both Anglo American and of De Beers. He went on to set up, on behalf of Debswana Diamond Company, the Teemane diamond cutting factory in Serowe, Botswana. He was then appointed the Manager of De Beers’ Strategic Review.
In July last year he succeeded Gary Ralfe as Managing Director of Diamond Trading Company and has played the leading role in the successful implementation of Supplier of Choice, De Beers’ new sales and marketing strategy.
In a press comment, Nicky Oppenheimer stated that “I am confident, along with the other shareholders of De Beers, that under Gareth’s leadership De Beers will continue the record of performance of the past few years. I am delighted that Gary Ralfe will continue to serve as a non-executive Director of De Beers SA after his retirement next year.”
