A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.
Dominion Diamond CEO to Step Down
Brendan Bell will continue to act as CEO through June while the diamond mining company finds a successor.
Yellowknife, Northwest Territories--Canadian diamond mining company Dominion Diamond Corp. announced this week that CEO Brendan Bell will leave the company this year.
Bell will vacate his role as CEO and member of the board of directors on June 30, giving the company time to find a successor.
In a company statement, Bell said he was leaving because he does not want to make the move to Calgary.
Dominion announced in November that it was moving its headquarters from Yellowknife in the Northwest Territories to Calgary in order to save about $14.5 million a year.
The company is the world’s third largest producer of rough diamonds by value, operating the Ekati Diamond Mine and owning a 40 percent stake in the Diavik Diamond Mine, both of which are located in Canada’s Northwest Territories.
“The decision to move the corporate offices of Dominion from Yellowknife to Calgary was necessary in order to reduce operating costs and support the long-term strength of the company, and is one that I continue to support,” Bell said. “For personal reasons, however, this is not the right move for my family. It has been a pleasure working with the company's senior management team, and I will continue to do so until a successor has been identified.”
Bell joined Dominion in 2013, becoming the acting CEO in 2014 and official CEO in 2015. Previously, he served in the Northwest Territories’ Legislative Assembly in various roles including minister responsible for energy and mines and minister responsible for the environment, and minister of justice and attorney general in the government of the Northwest Territories.
Jim Gowans, chairman of Dominion’s board of directors, said: “On behalf of the board, I would like to thank Brendan for his contributions to Dominion, in particular for the role he played in guiding the company as chief executive officer over the last several years. We wish him all the best in the future.”
Dominion is working with recruiting company Korn Ferry to find candidates for the CEO role.
The Latest
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
The company plans to invest $25 million in marketing initiatives to boost awareness around its namesake and licensed brands.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.
The former WJA executive director is MFM’s new managing director.
DDG encourages retailers to educate customers on the positive impact of purchasing natural diamonds.
Ho Brothers offers scalable solutions for the future of custom jewelry.
Highlighting the most iconic Tiffany collections, it’s inspired by the company’s late window designer, Gene Moore.
Jen Cullen Williams and Duvall O’Steen explore how jewelers can save time and money by using AI to analyze engagement and create content.
The retailer previously turned down an $8.4 billion offer in 2018.
The Florida store’s owner Miguel Gonzalez is retiring.
The lab stresses the importance of accurate identification, as the difference in price is “substantial.”
The brand also plans to expand its retail footprint from 138 to 200 stores over the next three years.
One is reserved for a NAJA member, the other for a non-member.
Longtime employees Carie Lehrke and Megan Mattice have received promotions.
Three guests joined National Jeweler and Jewelers of America to discuss trending time periods, spotting reproductions, and more.
Chris Clipper and Robert Lepere join the company with 50 years of combined experience.
The trendy, metallic earrings wink at classic spring colors.
JSA said a man and woman pulled the safe out of an Oakland jewelry store but couldn’t quite get it into their van.
The miner’s March auction generated $19 million.
Helen McCluskey will succeed H. Todd Stitzer when he meets his 12-year term limit in June.
“Chopard x Julia Roberts” showcases the first gems cut from the 6,000-carat-plus “Insofu Emerald."
The jewelry giant also posted a double-digit drop in same-store sales for the full year.
Elvis gave the watch to actress Dodie Marshall after filming “Easy Come, Easy Go.”
The Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design was presented to a graduate of the GIA school in Taipei.
The man was charged with money laundering in connection with the theft of gold, silver, and platinum over the course of three years.