FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
SourcingAug 07, 2017
Pallinghurst Names New Gemfields CEO
Ian Harebottle, who resigned following the company’s takeover, will be succeeded by Gemfields executive board member Sean Gilbertson.
London--The new owner of Gemfields, Palllinghurst Resources, has named a new CEO for the colored stone miner following Ian Harebottle’s resignation.
Pallinghurst’s recent acquisition of the company led to the July 28 delisting of Gemfields from AIM, the London Stock Exchange’s market for smaller companies. It is now an unlisted subsidiary of Pallinghurst, which expects to own 100 percent of the company by the end of this month.
Harebottle’s departure is one of a number of executive changes as Pallinghurst takes over the colored gemstone miner--which it says is in a record amount of debt--and launches an analysis of its operations.
The company has named longtime Gemfields executive board member, and recently appointed Pallinghurst executive director, Sean Gilbertson as CEO to succeed Harebottle. Gilbertson is the son of Pallinghurst board Chairman Brian Gilbertson.
Sean Gilbertson is the longest-serving executive director of Gemfields, playing a vital role in the acquisition and redevelopment of the Kagem emerald mine as well as in the 2013 acquisition and relaunch of the Fabergé brand, the company said.
In addition, Chief Financial Officer Janet Boyce has resigned, as have the non-executive directors of the colored stone miner.
David Lovett, who joined the company’s finance team in 2008, replaces Boyce as CFO and also will join the board. Lovett has served as a senior financial manager across a number of operating subsidiaries during his nine-year tenure.
Pallinghurst board Chairman Brian Gilbertson, Sean’s father, and CEO Arne H. Frandsen have joined the board of Gemfields as chairman and deputy chairman, respectively. Frandsen also will be joining the boards of Kagem Mining Limited and Montepuez Ruby Mining Limitada.
Pallinghurst’s recent acquisition of the company led to the July 28 delisting of Gemfields from AIM, the London Stock Exchange’s market for smaller companies. It is now an unlisted subsidiary of Pallinghurst, which expects to own 100 percent of the company by the end of this month.
Harebottle’s departure is one of a number of executive changes as Pallinghurst takes over the colored gemstone miner--which it says is in a record amount of debt--and launches an analysis of its operations.
The company has named longtime Gemfields executive board member, and recently appointed Pallinghurst executive director, Sean Gilbertson as CEO to succeed Harebottle. Gilbertson is the son of Pallinghurst board Chairman Brian Gilbertson.
Sean Gilbertson is the longest-serving executive director of Gemfields, playing a vital role in the acquisition and redevelopment of the Kagem emerald mine as well as in the 2013 acquisition and relaunch of the Fabergé brand, the company said.
In addition, Chief Financial Officer Janet Boyce has resigned, as have the non-executive directors of the colored stone miner.
David Lovett, who joined the company’s finance team in 2008, replaces Boyce as CFO and also will join the board. Lovett has served as a senior financial manager across a number of operating subsidiaries during his nine-year tenure.
Pallinghurst board Chairman Brian Gilbertson, Sean’s father, and CEO Arne H. Frandsen have joined the board of Gemfields as chairman and deputy chairman, respectively. Frandsen also will be joining the boards of Kagem Mining Limited and Montepuez Ruby Mining Limitada.
Editors' Picks
Sponsored by
Gemfields formed and launched on the AIM in 2005, setting out to be a standout in the colored gemstone industry. It eventually created a system to take the gems mine to market, acquired the iconic Faberge brand and launched marketing campaigns around colored gemstones to boost them in the market.
Other changes to the board and management made thus far are as follows.
--Adrian Banks, who joined Gemfields in 2009 and served as the group’s product director, responsible for grading, sorting and auctioning of emerald and ruby production, has joined the Gemfields board. He will continue to use his experience to help optimize the sale of rough gemstones.
--CV Suresh, who joined Gemfields in 2006 and ran Kagem prosperously from 2007 through 2015, also has joined the Gemfields board, taking overall responsibility for Gemfields’ Zambian assets.
--Kartikeya Parikshya, a leading gemstone geologist who joined Gemfields in 2004, has joined the Gemfields board and will be responsible for Gemfields’ Mozambican and Ethiopian operations, including the Montepuez ruby mine.
In its press release issued Friday, Pallinghurst said it has commenced a thorough review and analysis of Gemfields’ operations, including processes, plans, budgets and financial position. Its findings will inform an updated plan for developing the colored stone miner.
It added that Gemfields’ debt is “currently at record levels,” due in large part to a material drop in emerald production at Kagem, which resulted in a $54 million year-over-year decline in Kagem’s auction revenues for the fiscal year ended June 30.
Pallinghurst said it plans to report its findings of the review to the board by mid-September.
More on Sourcing
The Latest
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
CrimeAug 05, 2025
Report: Suspect Arrested in 1992 Murder of Miami JewelerOmar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane KatrinaThe New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.
ColumnistsAug 05, 2025
The PR Adviser: Affiliate Marketing Is the Cost of CoverageLilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.
Events & AwardsAug 05, 2025
JA Announces Seymour & Evelyn Holtzman Bench Scholarship WinnersThe organization has awarded a total of $42,000 through its scholarship programs this year.
Events & AwardsAug 04, 2025
Gem Awards, David Yurman Introduce $50K Grant for Emerging DesignersThe winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.
TrendsAug 04, 2025
Amanda’s Style File: August’s Bright BaublesAs summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.
CrimeAug 04, 2025
‘The Watch King’ Assaulted, Robbed in QueensMoshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.
MajorsAug 04, 2025
Borsheims Welcomes New Assistant Facilities ManagerXavier Dibbrell brings more than a decade of experience to the role.
MajorsAug 01, 2025
Helzberg President Julie Yoakum Moves Over to Signet JewelersThe addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.
MajorsAug 01, 2025
Jewelers Mutual Names Mike Alexander as President The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.
CollectionsAug 01, 2025
Piece of the Week: Hernsdorf’s ‘Tears of Aphrodite’ NecklaceThe necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.
Events & AwardsJul 31, 2025
These Are the 2025 CASE Award WinnersJewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.
IndependentsJul 31, 2025
Matthew Tratner Takes Over as CBG President Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.
Policies & IssuesJul 30, 2025
Tariff on India Will Be 25%, Trump Says The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.
