SourcingNov 18, 2025
Another Diamond Company CEO Steps DownSourcingDec 02, 2025
Petra Diamonds Elevates Interim CEOs to Permanent Status
Vivek Gadodia and Juan Kemp, who’ve been serving as interim co-CEOs since February, will continue to lead the diamond mining company.
Vivek Gadodia and Juan Kemp are now the permanent co-CEOs of Petra Diamonds Ltd. and will continue to lead the business in a market rife with challenges for diamond miners. Petra, which operates the Cullinan and Finsch mines (pictured), saw sales decline 33 percent and losses grow 68 percent in its most recent fiscal year. (Photo courtesy of Petra Diamonds Ltd.)
London—Petra Diamonds Ltd. announced that its interim co-CEOs, who’ve been running the company since February, are now permanent joint CEOs.
Vivek Gadodia and Juan Kemp took over following the resignation of Richard Duffy, who had been with the company since 2019.
Gadodia, who has been with Petra since 2021 and was chief restructuring officer before he became co-CEO, will continue to oversee corporate matters.
Kemp, who was an operations executive at the Cullinan mine, will continue to oversee the mining company’s operations.
In a joint statement, the two executives said they have delivered a “streamlined, more resilient business,” having overseen the successful refinancing of the company and sold off two of its four diamond mining operations over the past nine months.
“We look forward to steering the company on a permanent basis as we continue our focus on the execution of our extension projects as we look to unlock value for our stakeholders in the short to medium term,” Gadodia and Kemp said.
Related stories will be right here …
Vivek Gadodia and Juan Kemp took over following the resignation of Richard Duffy, who had been with the company since 2019.
Gadodia, who has been with Petra since 2021 and was chief restructuring officer before he became co-CEO, will continue to oversee corporate matters.
Kemp, who was an operations executive at the Cullinan mine, will continue to oversee the mining company’s operations.
In a joint statement, the two executives said they have delivered a “streamlined, more resilient business,” having overseen the successful refinancing of the company and sold off two of its four diamond mining operations over the past nine months.
“We look forward to steering the company on a permanent basis as we continue our focus on the execution of our extension projects as we look to unlock value for our stakeholders in the short to medium term,” Gadodia and Kemp said.
The announcement of Gadodia and Kemp’s appointments as permanent co-CEOs followed the company’s annual general meeting, held Nov. 27.
After the meeting, the company also formally announced changes to its board and the results of the rights issue it launched in October to help keep it afloat.
A rights issue is a financing mechanism that gives a company’s existing shareholders the opportunity to buy more shares, usually at a discounted price.
Petra said shareholders purchased 94,466,889 of the more than 114,000,000 new ordinary shares offered (about 83 percent).
The rights issue, which was underwritten by a select group of shareholders who agreed to purchase all shares that were not sold, hit its target of £18.8 million (about $25.1 million).
The company said it will use the money for general working capital purposes.
Petra Diamonds operates two diamonds mines, Cullinan and Finsch, both located in South Africa.
More on Sourcing
The Latest
TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
AuctionsMar 09, 2026
Joanna Carson’s Jewels Lead White-Glove SaleThe top jewelry lot of the late model’s estate sale, hosted by John Moran Auctioneers, was an Oscar Heyman & Brothers for Cartier necklace.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
TrendsMar 03, 2026
Amanda’s Style File: AquatopiaThese aquamarine jewels channel the calming energy of the March birthstone.
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for SpectrumThe “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood GlamourDiamond jewelry was the star of the event formerly known as the SAG Awards.
SurveysMar 02, 2026
Consumer Confidence Edges Up in FebruaryConsumers were somewhat less worried about the future, though concerns about rising prices and politics remained.
