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Florida Diamond: CEO of De Beers Stepping Down

Florida Diamond

Florida Diamond

Florida Diamond News July 24th:

It has been noted recently that the Chief Executive Officer of giant diamond supplier De Beers is going to leave the company.  This will end a five year reign at the helm of the worlds most powerful companies.  Mr. Penny had to navigate the company through an economic recession that rocked the world’s business of luxury (and diamonds).

Surprisingly, this years financial data is more positive than expected.  The first half of this year, which ended on June 30th, saw a 74.1% jump in sales to almost $3 billion.  Noted was the increase in production in both China and India.  Much of the credit was given to Penny for this great half.

Penny worked at De Beers for 22 years.  All rumors about Penny point to him being a great leader and CEO.   He  helped bring them out of the toughest global economic recession in years.  It has not been decided who will replace Penny for the long term, however in the short term the CFO and CCO will act as a pair of CEO’s.

by Seth at Raymond Lee Jewelers

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