Barend Petersen has been appointed as the Chief Executive Officer of diamond company De Beers Consolidated Mines (DBCM) with effect from 1st April 2010, having been first appointed to the DBCM board in August 2002. Barend succeeds David Noko who stepped down at the end of March. In addition to his appointment as CEO of DBCM, Barend also heads up the South African mining interests of the De Beers Family of Companies.

Barend Petersen has begun meeting the mine and corporate leadership of the company and is engaging with mine management and employee representatives about their views on the business. He commented, “De Beers Consolidated Mines is in a position where today it can meet the new challenges it faces with confidence, having successfully weathered the challenges posed by the global recession. The company is prepared to address the demands of today and tomorrow and to build a robust and sustainable business model to maximize the potential of the DBCM diamond mines. I intend to do what I can to strengthen the position of the company in South Africa and to take advantage of the recovery as it continues to unfold.”

Chairman of DBCM, Nicky Oppenheimer, said “As shareholders we are delighted that Barend has agreed to lead DBCM into the next stage of its evolution. The 122 years of diamond experience inherent in De Beers gives the company resilience, while its openness to change and innovation enables it to overcome difficulties and to ultimately prosper. Having Barend join us as CEO from the DBCM empowerment shareholder, Ponahalo Investment Holdings, brings with it new insights and is another first for De Beers.”

Gareth Penny, De Beers Group CEO, commented “Barend joins us as CEO at an important time as the demand for diamonds, which we have witnessed in the past few months, appears to be gradually recovering. He leads a company in South Africa already far more efficient than it was a few years ago; having learnt from the recent experience of the global economic downturn, and having potential to contribute more to the business by improving profitable production while containing costs – lessons well learnt in recent years. I am confident that Barend will make as significant a contribution to De Beers in his executive role as he has made in his non-executive role in the past decade.”

Barend Petersen concluded “we are embarking on the next stage of the strategic journey of this iconic company. We will continue to improve on our efficiencies in both financial and production terms, containing costs while increasing production to meet the rising demand for diamonds. We recognize that the strong local currency adds rigor to the challenges facing management. The reality of the strong Rand is one we must manage in order to succeed in achieving our business sustainability strategy which we are currently engaged in developing. “

Barend, a chartered accountant, is a non-executive director of Anglo American South Africa and he also owns a stake in Ponahalo Capital, the black empowerment company. Ponahalo Capital has a 50% stake in Ponahalo, which owns 26% equity interest in De Beers Consolidated Mines. He is a director of De Beers societe anonyme, the holding company of the De Beers Group, as well as chairman of the Audit Committee of De Beers Consolidated Mines and a member of the Audit Committee of De Beers societe anonyme.

Cape Town born Barend is also chairman of the Environment, Community, Health and Safety Committee of the De Beers Family of Companies, and chairman of Sizwe Business Recovery and a former member of the Public Accounts and Auditors Board of South Africa.