Gemfields Announces Board Restructuring for Growth and Leadership
Gemfields, holding a majority stake in the Kagem emerald mine in Lufwanyama, Zambia, has unveiled significant changes to its Board of Directors effective 1 July 2024, following an extensive search for new leadership.
Bruce Cleaver, renowned for his global expertise in mining gemstones and marketing, will assume the role of Chair and Independent Non-Executive Director.
Formerly Chief Executive Officer and Co-Chair of De Beers Group, Cleaver brings a wealth of experience and will also chair the Nomination Committee.
Martin Tolcher, reflecting on his 15-year tenure and nearly five years as Chair, expressed confidence in handing over the reins to Cleaver, emphasizing the need for Board independence.
Cleaver, in turn, expressed gratitude for Tolcher’s leadership and articulated his excitement to lead Gemfields into its next growth phase.
Joining the Board as Independent Non-Executive Directors are Simon Scott and Kieran Daly. Scott, with extensive experience in mining and finance, will chair the Risk Council and participate in the Audit and Nomination Committees. Daly, Managing Director of Assore International Holdings, brings diverse mining experience and strategic insights.
Departing from the Board are Martin Tolcher, Lumkile Mondi, and Carel Malan, who will be recognized for their contributions at the upcoming AGM.
Kwape Mmela, transitioning to Lead Independent Non-Executive Director, will strengthen governance as Chair of the Remuneration Committee and member of the Audit Committee.
These changes aim to position Gemfields for enhanced governance, strategic expansion, and sustainable growth, including the development of a new processing plant set to triple throughput capacity by early 2025.
