De Beers Announces Varda Shine to Leave

De Beers says Varda Shine, Executive Vice President of Global Sightholder Sales, will be stepping down the firm at the end of January 2014.

The decision comes as the Diamond Trading Company completes the transfer of many of its operations to Botswana from London, with the first sight due to take place shortly.

Shine will be replaced by Paul Rowley, Senior Vice President of Midstream Operations for Global Sightholder Sales.

Shine will also step down as Chairperson of the DTC Botswana board and Deputy Chairperson of the Namibia DTC board. Successors are to be announced shortly, De Beers said.

Paul Rowley joined De Beers in 1983 and has filled a variety of senior positions in the organization. He has served on both the DTC Botswana and Namibia DTC boards and was Acting CEO of DTC Botswana prior to his current role.

His earlier experience also includes key account management, rough diamond purchasing in various African diamond producing countries and heading the Global Sightholder Sales Diamond Division.

De Beers CEO Philippe Mellier said: “Varda’s contribution to De Beers has been immense over three decades with the business and I would like to thank her wholeheartedly for her tireless commitment to the success of De Beers, its partners and the wider diamond industry. I am delighted to have a successor with Paul’s expertise in diamonds and experience in Africa to take Global Sightholder Sales forward – he will provide excellent continuity of leadership as the business settles in its new home”.

Varda Shine said: “I am very proud of all I have achieved with De Beers, both on the commercial side as well as establishing beneficiation at the heart of the organization. I have really enjoyed working with our Sightholders over the years, witnessing their businesses transform, and with our government partners in the establishment of the DTC Botswana and Namibia DTC joint ventures and in managing the relocation of the Global Sightholder Sales operations from the UK to Botswana. I believe that De Beers has a very bright future in southern Africa and Paul has all the right ingredients to take the business on to further success”.

Paul Rowley said: “I am very excited to take up this new role. I have been fortunate enough to have worked all over southern Africa, forming strong relationships with our government partners, and to have built up decades of experience with rough diamonds."