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New York, NY--Bruce Cleaver has stepped down from his role as co-chair of De Beers' board of directors. This change is compounded by his simultaneous departure from the board of Element Six, De Beers' lab-grown diamond company.

[Image screengrab via De Beers Group]

Per a report in Rapaport, Cleaver's decision to leave these positions follows his earlier resignation as CEO in early 2023 after a six-year tenure. The spokesperson for De Beers said in the report that Cleaver's appointment to these board roles was part of a strategic plan. This plan aimed to facilitate a seamless leadership transition to Al Cook, his successor.

During his time on the board, Cleaver played a pivotal role in negotiating and finalizing significant agreements with the Republic of Botswana government, a key De Beers partner. According to the De Beers spokesperson, these negotiations have reached a successful conclusion, with both parties signing heads of terms for new agreements. The report that this accomplishment marks the fulfillment of Cleaver's objectives on the board, leading to his departure.

Despite stepping down from these board positions, Cleaver will continue to be associated with De Beers, albeit in a different capacity. He will serve the company in an advisory role. In the wake of Cleaver's exit, Duncan Wanblad, CEO of Anglo American, De Beers' parent company, will assume the position of the sole chair of the miner's board of directors. 

Learn more in the report in Rapaport.