The De Beers Group has announced that David Noko, Managing Director of De Beers Consolidated Mines (DBCM), the Group’s South African mining entity, will step down after eight years with the company; four years as its Managing Director. He will leave at the end of March 2010.
David said, “The time is right for me to step aside so that a new leader can take DBCM on the next phase of its transformational journey. I have confidence in the future of DBCM – the company has demonstrated resilience in the face of the recession, and is emerging ready for the next stage in its evolution. The young talent we have developed throughout DBCM, and our relentless focus on a ‘Zero Harm’ safety standard and continuous business improvement, have positioned the company well for the future.”
On today’s announcement Nicky Oppenheimer, Chairman of DBCM said “David has led DBCM through a remarkable and important journey – filled with challenges and successes. With his passion, dedication and visionary leadership he has transformed the company so that DBCM represents the best in South Africa and stands proud in the world of diamond mining.”
DBCM Deputy Chairman and Ponahalo Chairman, Manne Dipico, said; “David should feel a huge sense of pride in all that he has achieved at De Beers both as the Managing Director and, before that, as General Manager of Kimberley Mines. I speak on behalf of all the shareholders in Ponahalo; the empowerment groups, the women, disabled and community shareholders, and every one of our employee shareholders, when I thank him and wish him every success for the future.”
Gareth Penny, De Beers Group Managing Director added “David’s role in leading the company to a level where it was able to weather the economic downturn, and to eventually emerge from the recession ready for the future, is a major achievement of his tenure as Managing Director He has made a profound impact in the company, and in the Chamber of Mines where he is the Deputy President. He has built an understanding between government, the company, and shareholders to be proud of. It is with gratitude that we thank David for all his efforts.”
The highlights of David’s leadership are many and include; in 2008 De Beers Consolidated Mines was the only recipient of the Productivity SA Chairman’s award for productivity improvement programmes. Productivity in the six De Beers mining operations rose by 152% in four years, from 2003, and productivity per employee by 180%.
In safety the company improved its safety performance recording no fatalities in 2007 and 2009, and recorded a world record in fatality free shifts in an underground mining operation.
As the general manager of Kimberley mines he succeeded in returning the more than 100 year old operation to profitability and achieved its highest production since 1914.
David has driven the expansion of BBBEE procurement to a level where today 48% of all company expenditure (R 779 million) is with black owned and empowered companies, and 60% with black or partly black owned businesses; at R 971 million during 2009.
David epitomizes the quality of management in the company which is a microcosm of South Africa. The employment equity position held by the company exceeds the government targets with 52% HDSA in management, and in its newest mine (Voorspoed) 35% of employees are female and 30% of all mining and technical positions are held by females. The company exceeds the industry average of 9% women in mining with a level of 10.4% across the company’s six mining operations.
David‘s comment is “DBCM has a strong complement of superb management of diverse background to fill the leadership role going forward – I am confident of that”.
David leaves a company prepared for the next stage of its transformational journey. The company strategy is being adapted to meet this new phase and the incoming CEO will take the company into this new stage
The shareholders announced today that Barend Petersen would be appointed Acting CEO from the beginning of April 2010 while the process to appoint the permanent CEO is finalised.
Barend is a chartered accountant with broad business and commercial experience. He is a non executive Director of Anglo American South Africa and also owns a stake in Ponahalo Investment Holdings, the black empowerment company. Ponahalo Investment Holdings has a joint 50% stake in Ponahalo, which owns a 26% equity interest in De Beers Consolidated Mines.
In the past decade Barend has had a deep involvement in De Beers, and in the De Beers Family of Companies. He is chairman of the Environment, Community, Health and Safety Committee (ECoHS) of De Beers Family of Companies, and is a non-executive director of De Beers Soci?t? Anonyme, the holding company of the De Beers Group and of De Beers Consolidated Mines.
De Beers, established in 1888, is the world’s leading rough diamond company with deep expertise in the exploration, mining and marketing of diamonds. De Beers, and its joint venture partners, operate in more than 20 countries across five continents employing more than 15,000 people. From its mining operations across Botswana, Namibia, South Africa and Canada, De Beers produces and markets approximately 40 percent of the world’s supply of rough diamonds. As part of the company’s operating philosophy, the people of De Beers are committed to Living up to Diamonds by making a lasting contribution to the communities in which they live and work. In the countries in which we have mining operations, this means carrying out profitable business, whilst at the same time helping Governments achieve their aspirations of turning natural resources into shared national wealth. De Beers encourages sustainable working to ensure long-term positive development for Africa, and returns up to approximately US$4.7 billion to the continent every year. For further information about De Beers visit www.debeersgroup.com
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