Bruce Cleaver to Step Down as De Beers CEO

RAPAPORT... De Beers is set for a change in leadership as CEO Bruce Cleaver will step down from his role at the beginning of 2023. He will be replaced by Al Cook, who is currently executive vice president of international exploration and production at Norway-based energy company Equinor."Al brings more than 25 years of international leadership experience," said De Beers chairman Duncan Wanblad said in a statement on Monday. "I believe Al's multi-disciplinary strategic skillset and strong personal conviction and values are ideally suited to the nature of De Beers."Cleaver will become co-chairman of De Beers alongside Wanblad, who is also CEO of parent company Anglo American. During his six-year tenure, Cleaver oversaw the redesign of sightholder agreements, the creation of Tracr diamond-tracking system, the launch of Lightbox, De Beers' lab-grown diamond business, and entrenched the company's Building Forever sustainability program as part of its core strategy, among other achievements that De Beers listed. "Bruce has led De Beers with distinction, evolving the company's strategic vision to ensure that consumers' desire for diamond jewelry is at the very heart of decision making across the diamond pipeline," said Wanblad. "He has successfully expanded De Beers' horizons for the longer term, and reinforced the company's unquestioned leadership position. I look forward to his contribution as co-chairman."Images: Bruce Cleaver (top), Al Cook (bottom). (De Beers)