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De Beers undergoes leadership change

Anglo American’s diamond business De Beers is undergoing a leadership shake-up which will see 20-year BP veteran Al Cook take the role of CEO with a focus on sustainable value, while the incumbent in the role, Bruce Cleaver, will move to co-chairman.
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The incoming CEO said he is passionate about bringing “enduring economic, social and environmental value” to host countries and communities.

Anglo American's diamond business De Beers is undergoing a leadership shake-up which will see 20-year BP veteran Al Cook take the role of CEO with a focus on sustainable value, while the incumbent in the role, Bruce Cleaver, will move to co-chairman.

"Al Cook brings more than 25 years of international leadership experience, gained predominantly at BP and Equinor, most recently leading Equinor's multi-billion dollar E&P business across Africa, the Americas and Europe," Anglo American chief executive and chairman Duncan Wanblad said.

Cook also led Equinor's global strategy and business development, including its net zero strategy.

The incoming CEO said he is passionate about bringing "enduring economic, social and environmental value" to host countries and communities.

"I believe Al's multi-disciplinary strategic skillset and strong personal conviction and values are ideally suited to the nature of De Beers, a global business that spans much of the spectrum from exploration and mining to Bond Street and Madison Avenue," Wanblad said.

Cook's two-decade career at BP spanned a number of corporate, commercial and operational and major project development roles, including serving as chief of staff to the CEO, the company said.

Cleaver will be stepping back to the non-executive role after six years as CEO.

"Bruce has successfully expanded De Beers' horizons for the longer term and reinforced the company's unquestioned leadership position, exemplified by De Beers' Building Forever sustainability framework to ensure an enduring positive diamond legacy," Wanblad said.

Cleaver said he looks forward to working closely with Cook and the leadership team.

The changes are to take effect from early 2023.

Anglo American's share price was down 0.78% at £27.52 (US$30.37) on 10 October.