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
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
WatchesJul 10, 2026
Brilliant Earth Expands Into WatchesIn honor of its 20th anniversary, the jewelry brand has released a limited-edition collection of Swiss-made timepieces.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsJul 09, 2026
Boucheron’s New High Jewelry Collection Is an Ode to the Human Touch“Human Being” highlights the similarities and differences between us through five sets of jewelry that celebrate fine craftsmanship.
Weekly QuizJul 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesJul 09, 2026
Damiani Group Finalizes Acquisition of Baume & MercierRichemont will continue to provide operational services for the watch brand for a period while the group prepares to integrate it.
AuctionsJul 09, 2026
Pharrell Williams’ Joopiter Hires Former Bonhams Exec to Head New Watch DivisionNate Borgelt will lead the digital auction house and content platform’s new division as head of watches.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
Events & AwardsJul 09, 2026
Halstead Names 2026 Grant WinnerEnoch Platero, founder and designer behind Enoch Michael, is the first Native American jeweler to win the award.
Events & AwardsJul 09, 2026
AGS, GIA Name 2026 Beatrice Shipley Scholarship WinnerAGS also announced the recipient of its “Women in Leadership” scholarship.
MajorsJul 08, 2026
Kendra Scott Joins ‘Shark Tank’ As Permanent Investor The founder of the billion-dollar jewelry and lifestyle brand will debut as a full-time “Shark” on the upcoming season of the show.
SurveysJul 08, 2026
Signet Jewelers Falls 5 Spots on NRF’s ‘Top 100’ Retailers ListPlus, why retailers should be ready to adjust as the U.S. population may decline this year for the first time since the Great Depression.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
MajorsJul 08, 2026
Richline Group Promotes 2 ExecsArien Gessner and Moss Makhoulian have been elevated into newly created roles.
ColumnistsJul 07, 2026
Peter Smith: Diamond Branding and the Origin ParadoxA podcast prompted Smith to share his views on where origin fits into the natural diamond story and the viability of branded diamonds.
Events & AwardsJul 07, 2026
JA Announces 2026 Impact Initiative RecipientsThe association selected eight recipients for the funding program, which is in its second year.
TrendsJul 07, 2026
Amanda’s Style File: Ruby, White and Blue Whether celebrating America’s 250th birthday or the USA’s World Cup run, July birthstone jewelry can double as a patriotic accessory.
CrimeJul 07, 2026
Thieves Steal Millions in Jewels From France’s Musée LaliqueAround 20 pieces of jewelry were stolen from the museum dedicated to French jeweler and glassmaker René Lalique.
CollectionsJul 07, 2026
Robinson Pelham Is Partying Like It’s 1996The “Summer of ’96” campaign and collection celebrate the year the brand was founded for its 30th anniversary.
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
