Petra Diamonds Appoints Permanent Joint CEOs and Strengthens Board Following Annual Meeting
London-listed Petra Diamonds has announced a refreshed leadership structure and several board changes following its Annual General Meeting held on November 27.
The company confirmed the appointment of Vivek Gadodia and Juan Kemp as permanent joint CEOs, solidifying the roles they have held in an interim capacity since February.
Under the new structure, Gadodia will continue to lead Petra’s corporate functions, while Kemp will oversee operational activities across the business.
Shareholders also approved the appointment of Kushal Kumar as a nonexecutive director. With over 30 years of experience in global financial markets, Kumar has held senior positions at Lehman Brothers in London, JP Morgan and Bank of America in Hong Kong, and American Express Bank in India.
He also serves on the advisory board of Kyma Capital, a major holder of Petra’s bonds and shares, meaning he does not qualify as an independent director.
In addition, Lerato Molebatsi has been appointed senior independent nonexecutive director, succeeding Bernard Pryor, who stepped down to focus on his executive commitments.
Nonexecutive chairperson José Vargas will now chair both the remuneration and nomination committees.
Petra also announced the departure of Alex Watson, who stepped down from her position as board observer.
In a statement, Vargas welcomed the new additions and said the strengthened board will help stabilize and guide the company as it advances its strategic goals. Gadodia and Kemp said they look forward to leading Petra on a permanent basis.
“Over the last nine months, we have delivered a streamlined, more resilient business as we executed the company’s refinancing.
Our focus now is on delivering extension projects that will unlock value for stakeholders in the short to medium term,” the joint CEOs said.
Petra Diamonds operates the Cullinan and Finsch underground mines in South Africa, where the company continues to prioritise improving recoveries and operational efficiency.
