Petra appoints interim chair

Diamond miner Petra Diamonds has named senior independent director Varda Shine as interim chairperson.

She will succeed Peter Hill, who has informed the company that he will not offer himself for re-election at Petra's forthcoming annual general meeting on November 14.

Shine will lead a search for a permanent chairperson and will also serve as chairperson of the nomination and investment committees, in addition to her role as chairperson of the remuneration committee.

Petra nonexecutive director and health and safety committee chairperson Bernard Pryor will become senior independent director.

"It has been an honour and a privilege to be a director and chairperson of Petra over the last almost four years. Petra has an exceptional management team and world-class diamond assets.

"It has successfully weathered a number of exogenous pressures over the last few years and is very well placed for the future and I feel it is now appropriate for a new chairperson to take the company on to its next phase of development and growth. I wish the company, the board and management all the very best for the future," Hill says.

"I would like to thank Peter for his service to Petra Diamonds as its chairperson and look forward to working with my fellow directors to ensure a smooth transition and continuation of Petra's robust governance framework until a permanent replacement is sought," Shine comments.