RAPAPORT… Stephen Lussier, one of De Beers’ most recognizable and influential figures, will stand down from his role after almost four decades at the company. The miner has recruited Tiffany & Co. executive Marc Jacheet to succeed him.
Lussier will leave his position as De Beers’ executive vice president for brands and consumer markets on April 1, the company said Thursday. He will continue as a strategic adviser to the business and will remain chairman of the Natural Diamond Council (NDC).
Lussier is one of De Beers’ key strategists and spokespeople on diamond marketing. He is chairman of De Beers Jewellers and De Beers Forevermark, the company’s two most important consumer brands.
“Stephen’s contribution to De Beers and the entire diamond industry is singular and wide-reaching,” said De Beers CEO Bruce Cleaver. “For 37 years, he has shaped the soul of our product and reminded us of the preciousness, beauty and positive impact of natural diamonds. We thank him for all he has done for De Beers, to which his name and legacy will be forever linked.”
Jacheet, Tiffany’s president for Europe, the Middle East and Africa (EMEA), will join the company on February 1 as CEO of De Beers’ consumer brands, the miner added. He will become a member of the group executive committee and will be responsible for the brands and consumer markets division, which De Beers set up last year to oversee its retail and social-purpose operations.
Jacheet is also a former president for Asia Pacific at Tiffany, and has held several marketing roles at LVMH, Danone and Unilever across Europe and the US.
“Having had the privilege of guiding De Beers’ consumer strategy and businesses for the past three decades, I am proud of the markets we have opened, the brands we have built and the diamond dream that has guided us at every step,” Lussier commented. “I am particularly pleased to have identified Marc as an individual with the insight and leadership skills to guide De Beers’ consumer strategy forward into an exciting new era for the group and the diamond industry.”
Image: Stephen Lussier. (Joe McGorty)
De Beers Brand Guru Stephen Lussier to Step Down
The Bottom Line
- Stephen Lussier will leave his role as De Beers’ executive vice president for brands and consumer markets on April 1 but remain as a strategic adviser and chairman of the Natural Diamond Council.
- Marc Jacheet, former Tiffany president for EMEA, will join De Beers on February 1 as CEO of consumer brands and join the group executive committee.
- De Beers created a brands and consumer markets division last year to manage retail and social-purpose operations, which Jacheet will now lead.
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