De Beers taps new chairman, ending long dynasty

JOHANNESBURG: The world's leading diamond company De Beers appointed Anglo-American CEO Cynthia Carroll as its new chairman Wednesday, spelling the symbolic end of one of the corporate world's longest-running dynasties.

10 Oct 2012

Carroll replaced chairman Nicky Oppenheimer, who stepped down in August when his family sold its stake, giving Anglo American a 85 percent control of the storied, and sometimes controversial firm.

De Beers, founded in 1888 by Cecil Rhodes, has been run by Oppenheimer family members or trusted associates since the late 1920s.

The Botswana government owns the remaining 15 percent of the company.

"I look forward to leading the board and continuing to support the management of the world's leading diamond company," Carroll said in a statement.

Carroll is currently chief executive of Anglo American, one of the world's largest mining companies.

Source: AFP via I-NET Bridge

Source: I-Net Bridge

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