Anglo American appoints new De Beers CEO

Anglo American has appointed Bruce Cleaver as chief executive officer of its diamonds business, De Beers, following Philippe Mellier's decision to step down after five years.

Cleaver was De Beers' executive director responsible for strategy and commercial relationships until 2015. He also served as co-acting CEO for a year prior to Philippe Mellier's appointment in 2011. He was appointed group director of strategy and business development for Anglo last year.

Anglo said on Friday that Duncan Wanblad, CEO of the base metals business, will add the strategy and business development portfolio to his responsibilities.

The company said both appointments will take effect on 1 July 2016.

Mark Cutifani, chief executive of Anglo American and chairman of De Beers, said: " Bruce's leadership of De Beers' strategy and its commercial and government relationships working alongside Philippe and over much of the last decade, combined with his time working with us to shape the new Anglo American strategy, provide strong continuity at an important stage in the diamond market's recovery.”

At 0822 BST, Anglo shares were up 0.4% to 631.40p.