RAPAPORT… Johnny Velloza is set to leave Gem Diamonds, two months
after his promotion to deputy CEO and chief operating officer.
Velloza will step down on September 15 to become joint
CEO of a copper and cobalt company, the miner said Thursday.
Gem Diamonds is currently searching for his successor. In the
interim, Gavin Beevers will join the miner as technical adviser on July 1 for
an as-yet-undetermined period. The former De Beers technical director has been
a member of Gem Diamonds’ board for the past 10 years.
Velloza will still join Gem Diamonds’ board on July 1 in an
executive capacity, as planned, and will become a non-executive director after he
leaves the company.
Gem Diamonds Exec Velloza to Leave
The Bottom Line
- Johnny Velloza will step down from Gem Diamonds on September 15 to lead a copper and cobalt company as joint CEO.
- Gem Diamonds is searching for a successor while Gavin Beevers will join as technical adviser starting July 1.
- Velloza will join Gem Diamonds’ board in an executive role on July 1 and become a non-executive director after his departure.
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