De Beers owner Anglo on verge of new CEO, report says

Rob Bates

De Beers’ majority owner, Anglo American, is on the verge of choosing Duncan Wanblad to replace current CEO Mark Cutifani, according to a report from U.K. news service Sky News, which cited unnamed sources.

Wanblad currently serves as Anglo’s director of strategy and business development.

The report added that an announcement could come as soon as October and would almost certainly come before the end of the year. The board was also considering a “small number of external contenders,” the report said.

Anglo American declined to comment.

Cutifani also serves as chairman of De Beers. His tenure at Anglo has generally been considered successful, and he has previously brushed aside talk of retirement. He took over Anglo American in 2013.

In 2015, Bruce Cleaver briefly served as Anglo’s head of strategy and business development—Wanblad’s current position—before becoming De Beers’ CEO in 2016. Cleaver has also been mentioned as a possible successor to Cutifani.

Anglo American owns 85% of De Beers. The other 15% is held by the government of the Republic of Botswana.

Source JCK Online