Gareth Penny was one of the prime architects of the radical change in the De Beers business model, which replaced over 100 years of supply-side management in the rough diamond business with demand-driven initiatives that have seen global diamond industry growth year on year since 2000.
Gareth has helped to reshape not only the world’s largest diamond company, but an entire industry. It was Gareth’s vision that led De Beers through its seminal Strategic Review, but his candid and forward-thinking leadership has also inspired a remarkable transformation of the diamond industry as a whole.
The Supplier of Choice strategy has changed the dynamics of the business, driving demand and developing synergies to bring efficiencies to the supply chain. He is a champion of financial transparency, technological innovation, marketing & branding, and - most importantly - ethical accountability, reputation management and product integrity.
Gareth joined Anglo American Corporation in 1988. He led the Anglo American and De Beers Small Business Initiative in South Africa and set up a diamond cutting factory in Botswana, followed by two years as Personal Assistant to the Chairman of Anglo American and De Beers and then as Diamond Consultant in South Africa.
Having led the Strategic Review, Gareth was appointed Director of Sales and Marketing of the Diamond Trading Company (London) in 2001, joined the Board of De Beers in 2003, and became Group Managing Director of the De Beers Group of Companies in March 2006.
Gareth was JCK Person of the Year in 2003. In 2006 Gareth presented at the STAR Management Week at RSM Erasmus University in the Netherlands, was a key note speaker at the World Diamond Congress in Israel, and delivered a Leadership Lecture at the Wharton School at the University of Pennsylvania.
In early 2008 Gareth was invited to join the Botswana President Economic Advisory Council. He holds Honorary Life Membership of the London Diamond Club and Bourse and is a member of the Board of Julius Baer, the listed, leading, dedicated wealth manager in Switzerland.
Educated at Diocesan College (Bishops) in Cape Town and at Eton College, Gareth was a Rhodes Scholar at Oxford, graduating with a Masters in Philosophy, Politics and Economics. Gareth is married to Kate and they have two children. He enjoys sailing, walking and reading in his spare time.
Year of birth:
1962
Qualifications:
Masters in Philosophy, Politics and Economics
Date of appointment to DBsa board:
02.04.2003
Current occupation:
Managing Director - De Beers Group of Companies
Other directorships:
DBCM Holdings (Pty) Limited , Centhold International Limited, Central Holdings Limited, De Beers Consolidated Mines Ltd, Debswana Diamond Co (Pty) Ltd (Dep Chairman), The Diamond Trading Co Ltd (UK), E Oppenheimer & Son International Ltd, Namdeb Diamond Corporation (Pty) Ltd