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De Beers Group Announces Changes to Executive Committee

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De Beers Group today announced changes to its Executive Committee, with current Chief Operating Officer, Burger Greeff, retiring at the end of the year following three decades of exceptional service. Kevin Smith, currently Executive Vice President, Corporate Affairs & Strategy, will become Interim Chief Operating Officer, while Eirik Waerness, currently Senior Vice President & Chief Economist, will move into the role of Acting Executive Vice President, Corporate Affairs & Strategy, both effective from 1 December 2025.

Burger joined De Beers Group in August 1993 as a Senior Research Officer at De Beers Consolidated Mines. Over his career with De Beers, Burger has held numerous pivotal leadership roles across the business, including Senior Research Manager: Strategic, General Manager at De Beers Marine SA, and Executive Head of Technical & Sustainability. His leadership has spanned technical innovation, operational excellence, and sustainability.

Kevin joined De Beers in 1996 and has held many leadership roles across both De Beers and Anglo American, including operational, technical and commercial positions. Most recently, as Executive Vice President of Corporate Affairs & Strategy, Kevin has been instrumental in leading the delivery of the Origins strategy. Prior to that, Kevin played a key role in developing the Upstream Origins strategy, as well as leading the organisational redesign programme across the Group.

Eirik joined De Beers Group on 1 September 2025 as Senior Vice President and Chief Economist, Head of Global Market and Price Analysis. Eirik joined De Beers Group from Equinor in Norway, where he held the role of Chief Economist for the past 12 years, as well as a period as Head of Strategy. Eirik’s vision, influence, and analytical expertise have already helped to shape strategic direction at De Beers Group, and in his new position Eirik will expand his portfolio of responsibility to cover Global Communications, Government Affairs, Strategy & Business Development and Global Market and Price Analysis.

Al Cook, CEO of De Beers Group, said: “As Chief Operating Officer, Burger has brought integrity, strategic foresight, and unwavering commitment to our purpose. His contributions have helped shape the future of our operations and inspired many across the business. Burger’s legacy is one of excellence, humility, and service, and I extend my heartfelt thanks to Burger for his outstanding leadership.

“With Burger’s departure, I am delighted that Kevin Smith, a highly respected leader with an outstanding track record of delivery, will take over the leadership of our operations. He brings a wealth of experience and a range of skills from nearly 30 years in the business, including working alongside our government partners in Botswana and in Namibia to drive success in our joint venture businesses.

“Moreover, I welcome Eirik to the De Beers Executive Committee as he moves into the role of Acting Executive Vice President, Corporate Affairs & Strategy. With more than 12 years in chief economist roles and board experience across three major Norwegian government institutions, he brings a unique perspective shaped by global markets and institutional governance, and I very much look forward to benefitting from his expertise in his new role.”

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International News

ALROSA reports 5.7% revenue dip, net profit rises 26.6% driven by sale of Catoca stake

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Russian diamond giant ALROSA reported a 5.7% decline in revenue for the first nine months of 2025, totaling RUB 157 billion (USD 419 million), as it continues to navigate subdued sales volumes, lower prices, and the impact of Western sanctions.

While revenue for the first half had plunged 24%, the latest results suggest a modest recovery in recent months. However, gross profit fell 37% year-on-year to RUB 33.9 billion (USD 90 million), reflecting ongoing weakness in rough diamond prices.

In contrast, net profit rose 26.6% to RUB 35.8 billion (USD 95 million), primarily driven by the sale of ALROSA’s 41% stake in Angola’s Catoca diamond mine for RUB 159 billion (USD 424 million).

To mitigate market volatility, ALROSA has halted operations at several low-margin mines and signaled further cost-cutting measures, including potential job reductions. The miner has also been selling rough diamond inventories to Gokhran, Russia’s state repository, as part of its stabilisation efforts.

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