Debswana Diamond Chief Executive Officer Blackie Marole had announced his departure from the company and will retire a year into his second five-year term.



The De Beers-Botswana government joint venture's board confirmed the news in a press release saying Marole "intends to retire" from the company after six years of service.



The board further expressed its gratitude for the diamond company chief's service and agreed that "it was the right time for new leadership to tackle Debswana’s current and future challenges.



"Having steered Debswana through many challenges, the biggest of which being the recent global economic crisis, the Board accepted Mr. Marole’s resignation… (he) will hand over the leadership of Debswana once a successor is identified and on board,” spokeswoman Esther Kanaimba-Senai added.



"The timeline for his departure will be determined by the Board on their ability to find a replacement.”