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SourcingApr 03, 2020
De Beers CFO to Depart This Summer
Nimesh Patel worked at parent company Anglo American before moving to De Beers Group in 2016.
De Beers Group CFO Nimesh Patel will depart the company this summer.
London—De Beers Group has announced the departure of its chief financial officer.
Nimesh Patel will maintain his role as CFO through July 26.
Patel joined De Beers parent company Anglo American as group head of corporate finance in 2012.
In 2016, he began his CFO role at De Beers Group, becoming a member of the executive committee and board of directors.
Patel will join Spirax Sarco Enginerring as its chief financial officer and executive director.
De Beers Group CEO Bruce Cleaver said in a statement: “Nimesh has worked closely with me and as part of our executive team to develop and implement our compelling growth and innovation strategy.
“He has built a strong finance team and led a transformation of our finance processes and systems, leaving the function well positioned for the future. Nimesh has also provided strong and steady leadership during the current period of global uncertainty and we wish him and his family every success in the future”
De Beers hasn’t settled on Patel’s successor.
Like the rest of the diamond and jewelry industries, De Beers has been hit hard by the coronavirus.
Rough diamond sales dipped in February as the coronavirus took hold in Asia. Its second sales cycle of the year saw rough diamond sales dip 28 percent from the same period the year prior.
In March, the miner called off its third sight of the year in Botswana due to various worldwide travel restrictions.
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