Friday, July 19, 2024

De Beers announces new Chief Financial Officer

The Board of De Beers SA has announced the appointment of Gareth Mostyn as the company’s Chief Financial Officer. He will report directly to Philippe Mellier, De Beers Group CEO, and be appointed to the Board of De Beers SA.

A qualified Chartered Accountant, Mostyn will join De Beers from Anglo American plc, where he has served as Head of Corporate Finance reporting to Finance Director, Ren├® M├®dori.

Mostyn has been with Anglo American since 2008, prior to which he spent twelve years with The BOC Group plc (latter a member of The Linde Group), a leading global gas and engineering company.
Mostyn brings extensive corporate and operational finance experience to De Beers, having played a leading role in a number of Anglo American’s major transactions, the company’s capital management, and its overall financial strategy.

At an operational level, Mostyn has worked closely with Anglo American’s business units around the world, focusing on major capital projects and organisational alignment, with substantial experience in South Africa.

During his time with Anglo American, Mostyn developed a good understanding of the De Beers Group, gaining significant exposure to the business through the development of mining projects in southern Africa and Canada, and through De Beers’ refinancing process.

Commenting on the appointment, Mellier said, “I am pleased to be able to add Gareth to De Beers’ management team. He is already familiar with our business, and will bring that knowledge, hands on experience and proven track record to the role. As CFO, Gareth will be instrumental in sharpening our strategic focus and helping to identify value creating opportunities.”

Mostyn commented, “I am grateful for the confidence placed in me by Philippe and De Beers’ shareholders. This is an exciting time for the diamond business and we have a unique opportunity in front of us to secure De Beers’ long-term leadership position in this changing market. I am thrilled to be joining an iconic company with a strong heritage and incomparable product, and look forward to working with our producer partners, Sightholders and colleagues to build on our shared success.”

Mostyn will begin in his new role on 1 February 2012 and will be based in London.


Read this week's paper