De Beers names Philippe Mellier as new CEO

Mr. Mellier, currently the President of Alstom Transport and Executive Vice President of Alstom s.a., was selected after a wide-ranging search.

Post By : IJ News Service On 18 May 2011 2:34 PM
At a sparkling evening in London on January 21, 2008, DTC Sightholders listened to Nicky Oppenheimer, Gareth Penny and Varda Shine as they spoke of the achievements De Beers and the DTC had made in 2007, and the challenging and exciting year that lies ahead. %% Nicky Oppenheimer, De Beers Chairman, welcomed guests by saying that 2008 is going to be an important year for everyone present, not least with the beginning of the new contract period in April. He said he was sad that several close personal friends of his would no longer be buying diamonds directly from De Beers when the new contract period starts, but that he hoped those friendships would endure. %% “At the same time,” he said, “it is exciting to welcome new players who I am sure will add lustre and vibrancy to the industry as a whole” he added. Varda has kept me closely in touch with the whole process and she and her team have met every challenge I placed before them. They have been rigorous and honest throughout. Her task has not been easy and I salute her and her team for the way they have handled a difficult situation.”%% {{India, China, Middle-East Rising Stars :}}$$ He spoke about the huge importance of the emergence of India, China and the Middle-East as major diamond buyers and said that the fact that these ‘new’ players will be a balance to the USA should give us all great confidence.%% Gareth Penny, De Beers Managing Director, opened his remarks by saying that, in 2007, De Beers made further improvements in its quest to find and deliver new deposits of rough diamonds, whilst ensuring that our existing operations continue to provide world-class supplies in a financially sustainable way. %% {{Many New Mines to be Opened :}}$$ “As we look forward to opening several new mines this year, we have also sold on some of our operations that no longer fit with the business model we seek to deploy. To attain profitable growth, we must remain aware of costs. As India and China continue to register outstanding economic growth, their demand for finite supplies of natural resources has resulted in higher resource prices,” he said. %% {{Consumer Confidence Important :}}$$ All these efforts come to nought if we do not continue to instil confidence in the consumer and uphold and protect the reputation of diamonds. Through our collective involvement in the World Diamond Council, we have been forefront in providing solutions that now see diamonds as one of the most monitored and audited natural resources in the world.%% “Government leaders, including the G8 Group of Nations, are seeking our advice on how to provide assurance and security in the distribution of other valuable resources. We have done the right thing and are, at last, beginning to reap the dividends. However, we must not jeopardize this success. Although we may have effectively contained many of the risks we face in this area, those risks will never be far away. Complacency is now our greatest enemy.”%% “Yes, there will continue to be some uncomfortable moments and hard decisions to make, but I am equally confident that eventually the rewards will exceed the various sacrifices we have all had to make,” he concluded. %% Varda Shine, DTC Managing Director, offered to share her thoughts about the journey on which everyone will be embarking as we start the new contract period, “I believe that the new Sightholder contract was implemented fairly and objectively, applying the same rules to every applicant. I believe too that it has resulted in a list of diverse, quality Sightholders that are best placed for future success, particularly in the current environment of constrained supply.”%% {{Parting Uneasy}} :$$ She admitted that change has not been easy for anybody, “especially those well run and well managed companies that the DTC would like to supply, if only we had enough diamonds to do so. These were not easy decisions but I know they were the right decisions.” %% {{

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