Top global diamond producer De Beers has announced oil and energy industry executive Al Cook as the new CEO of the group, taking over from Bruce Cleaver who will move into the role of De Beers co-chairperson.
Both appointments are effective from early 2023.
Duncan Wanblad, Anglo American CEO and Chair of De Beers Group, said Cook’s appointment follows on Cleaver’s decision to step back after six years to a non-executive role.
Cook brings more than 25 years of international leadership experience, gained predominantly at BP and Equinor, most recently leading Equinor’s multi-billion dollar global E&P business across Africa, the Americas and Europe. He previously led Equinor’s global strategy and business development, developing the company’s net zero strategy.
“I believe Al’s multi- disciplinary strategic skillset and strong personal conviction and values are ideally suited to the nature of De Beers, a global business that spans much of the spectrum from exploration and mining to Bond Street and Madison Avenue,” said Wanblad.
Wanblad commended Cleaver for successfully steering De Beers through a period of considerable change over the last six years – “including leading the way through technology to provide consumers with absolute assurance of the ethical provenance of their diamonds” – and said he looked forward to his contribution as co-chair, “ensuring the greatest continuity for the business and our partners and stakeholders”.
One of the major issues for De Beers that may befall Cook early in his diamond career will be the renewal of a key marketing agreement with the Botswana government which is a joint venture partner in Debswana.
In Namibia, De Beers operates through another subsidiary, Namdeb, which is also a 50:50 joint venture with the Namibian government.
De Beers’ marine diamond mining activities in Namibia are handled by Debmarine Namibia, which is another 50:50 joint venture between the group and the Namibian government.-fin24
