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Gemfields Announces New Leadership with Industry Veterans at the Helm | Rateweb
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Gemfields Announces New Leadership with Industry Veterans at the Helm

Gemfields Group Limited has announced significant changes to its Board. This follows a thorough search for new leadership. The changes will take effect on July 1, 2024.

Bruce Cleaver Appointed as New Chair

Bruce Cleaver will join Gemfields as Chair and Independent Non-Executive Director on July 1, 2024. He will also chair the Nomination Committee. Cleaver brings a wealth of experience from his tenure as CEO and Co-Chair of De Beers Group.

Cleaver’s appointment follows the resignation of Martin Tolcher, who has been with Gemfields for 15 years. Tolcher commented on his departure, highlighting the importance of bolstering board independence.

“After 15 years as a member of Gemfields’ Board and nearly 5 years as Chair, it’s time for me to step down. I am delighted to have Bruce as my successor and confident in his ability to lead Gemfields to new heights,” Tolcher said.

Cleaver expressed his gratitude towards Tolcher and shared his excitement for the new role. “I thank Martin for his significant contributions to Gemfields. Gemfields has grown from humble beginnings to become the world’s leading coloured gemstone company. I am excited to take on this role and work with the Gemfields team to drive the company’s next growth phase,” Cleaver stated.

Simon Scott Joins as Independent Non-Executive Director

Simon Scott will join Gemfields’ Board as Independent Non-Executive Director on July 1, 2024. He will join the Audit and Nomination Committees and chair the Risk Council.

Scott has an illustrious career in mining and finance, with extensive experience on public company boards. He was previously CFO of Lonmin plc and is currently a non-executive director at First Quantum Minerals Ltd and Sylvania Platinum Ltd.

Kieran Daly Appointed as Non-Executive Director

Kieran Daly will join the Board as Non-Executive Director on July 1, 2024. Daly is Managing Director of Assore International Holdings, which holds a 29.2% stake in Gemfields. He also serves in executive roles at Assore Holdings and board-level roles at other mining companies, including Atlantic Lithium Ltd.

Daly is not deemed independent due to his association with Assore International Holdings. His prior experience in mining across various geographies and commodities will be valuable to Gemfields.

Resignation of Key Board Members

Three key members of Gemfields’ Board will step down on July 1, 2024. Martin Tolcher, Lumkile Mondi, and Carel Malan will resign to facilitate a smooth transition to the new leadership.

Lumkile Mondi, the Lead Independent Non-Executive Director, and Carel Malan have played crucial roles in the company’s development. Malan will focus on his role at Ore & Metal Company Ltd, a subsidiary of Assore Holdings.

Gemfields will formally thank Tolcher, Mondi, and Malan for their service at the upcoming AGM on June 25, 2024.

Other Board Changes

Kwape Mmela, currently an Independent Non-Executive Director, will become Lead Independent Non-Executive Director on July 1, 2024. Mmela will also join the Audit Committee and continue chairing the Remuneration Committee.

Leadership Profiles

NameRolePrevious PositionsAge
Bruce CleaverChair and Independent NEDCEO and Co-Chair of De Beers Group59
Simon ScottIndependent Non-Executive DirectorCFO of Lonmin plc, NED at First Quantum66
Kieran DalyNon-Executive DirectorManaging Director of Assore InternationalN

Conclusion

Gemfields is poised for significant growth with its new leadership team. The company’s focus on responsible mining and market sophistication sets it apart in the coloured gemstone industry. With experienced leaders like Bruce Cleaver and Simon Scott, Gemfields is well-positioned for its next phase of expansion.