RAPAPORT… Former De Beers executive Varda Shine is set to become an
independent director at Sarine Technologies, as the company diversifies its
board to prepare for expanding its services.
Shine (pictured) was CEO of the Diamond Trading Company – now De Beers
Global Sightholder Sales – between 2006 and 2014, during which she oversaw the
division’s move from London to Gaborone.
She is currently an independent director of the state-owned Mineral Development Company Botswana, as well as a non-executive
director of miner Lonmin.
Her appointment comes as Sarine directors Ehud Harel, Eyal
Mashiah and Hanoh Stark have decided to step down from the board. The company
plans to recruit another two directors this year besides Shine, according to a
statement on Monday.
“As the group focuses its expansion and growth on the
downstream polished diamond trade segment of the diamond industry, and in
compliance with corporate governance principles, the company’s board has
decided to diversify its composition,” Sarine executive chairman Daniel Glinert
said in the statement.
Shine’s addition to the board is subject to approval at the
group’s annual general meeting in Singapore on April 25.
The company, headquartered in Hod Hasharon, Israel, and
listed on the Singapore Exchange Mainboard, supplies mapping equipment
and other technology used predominantly in the diamond-manufacturing sector.