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Petra Diamonds Limited announces the following Board and Senior Management changes, effective 30 June 2016:
Mr David Abery will step down as Petra’s Finance Director in order to pursue other opportunities. Post his departure, Mr Abery will continue to be available to the Company on an advisory basis for a period of at least six months, as part of the succession process.
In line with the Company’s internal succession planning process, as led by the Nomination Committee, the following senior management changes will also take place.
Mr Jacques Breytenbach (44) will be appointed Chief Financial Officer. Mr Breytenbach has held the role of Finance Manager – Operations at the Company since 2006, with responsibility for financial management across the Group’s operations. He joined Petra from Anglo Platinum, where he held various roles, culminating in his position as Finance Manager – Capital Projects, with oversight for Anglo Platinum’s extensive capital expansion programmes. He is a Chartered Accountant and a member of the South African Institute of Chartered Accountants.
Mr Koos Visser (46) will be appointed Chief Operating Officer. Mr Visser has held the role of Group Operations Manager at the Company since 2005, with responsibility for the management of all Group operations, including production and the roll-out of the Group’s expansion plans (with a focus on plant design and operational efficiency improvements). Prior to joining Petra, he gained broad industry experience working for Impala Platinum in a number of roles, culminating in his position as Utilities and Technical Services Manager. He holds a B Degree in Electrical and Electronic Engineering from the University of Potchefstroom in South Africa and is a Registered Engineer GCC.
Petra’s Chairman, Adonis Pouroulis, commented: “David has been instrumental to the growth of Petra over the years, leading a number of strategic transactions and financings. His demonstration of leadership and contribution to long-term value creation have served the Company and shareholders well. On behalf of the Board and the entire Group, I would like to thank David for his outstanding contribution to Petra over the past 13 years, and we wish him every success in his future endeavours.
“I would also like to congratulate Jacques and Koos on their new roles, which will be integral to the daily management of the Company and its operations, as well as to the delivery of our medium- to long-term strategy. Their extensive knowledge of the Company, our operations and management of our capital investment programmes, as well as of the diamond mining industry and our local operating environments in South Africa and Tanzania, will continue to serve the Company well.”
David Abery commented: “After 13 years as Finance Director at Petra, during which the Company has grown from a junior diamond explorer into one of the world’s leading independent diamond producers, I have decided to focus on new opportunities. It is an appropriate time for me to move on, as the Company is on the cusp of completing its various expansion programmes, which have been underway since 2009, and I leave an excellent finance and corporate team in place. I will remain a shareholder and close follower of the Company, and I greatly look forward to watching Petra complete its journey to becoming a significant generator of free cash flow over the next few years.”
Following Mr Abery stepping down, the Petra Board now consists of seven members:
