International News
Tracr CEO Wesley Tucker to Exit Role as Platform Enters Next Growth Phase
After steering Tracr from pilot project to a globally recognised diamond traceability leader, Tucker will step down in February 2026.
De Beers has announced that Wesley Tucker will step down as Chief Executive Officer of Tracr and depart the business at the end of February 2026. Tucker, who joined De Beers Group in April 2021 as Head of Digital Transformation, later took charge of Tracr—the company’s blockchain-based diamond traceability platform.
During his leadership, Tucker played a pivotal role in transforming Tracr from an early pilot into the industry’s most advanced digital provenance solution. The platform now hosts more than 4 million registered diamonds and has been recognised globally, earning a spot on the Forbes Blockchain 50 list for three consecutive years.
Tucker oversaw major ecosystem expansions, forging partnerships with key industry players such as GIA, Sarine Technologies, and several top manufacturers, suppliers and retailers. His tenure also introduced next-generation capabilities, including full lifecycle traceability and country-of-origin certification for polished diamonds above 50 points sourced from De Beers Group.
Paul Rowley, EVP Diamond Trading, noted that with Tracr moving from its foundational stage into rapid scaling, the transition marks a natural point for Tucker to step aside. He praised Tucker’s leadership and vision for shaping Tracr’s strong strategic position.
De Beers stated that details regarding Tucker’s successor will be shared in due course.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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