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 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.