De Beers Appoints Anglo Head of Corporate Finance as CFO

(IDEX Online News) – De Beers appointed Gareth Mostyn as the company’s Chief Financial Officer. Mostyn, currently head of corporate finance at Anglo American, will begin in his new role on February 1 and will be based in London.

Mostyn will report directly to CEO Philippe Mellier and be appointed to the Board of De Beers s.a.

A qualified Chartered Accountant, Mostyn has been with Anglo American since 2008, prior to which he spent twelve years with The BOC Group plc (latterly a member of The Linde Group), a leading global gas and engineering company.

Mostyn brings extensive corporate and operational finance experience to De Beers, having played a leading role in a number of Anglo American’s major transactions, the company’s capital management, and its overall financial strategy, De Beers said Thursday.

At an operational level, Mostyn has worked closely with Anglo American’s business units around the world, focusing on major capital projects and organizational alignment, with substantial experience in South Africa.

The company added that during his time with Anglo American, "Mostyn developed a good understanding of the De Beers Group, gaining significant exposure to the business through the development of mining projects in southern Africa and Canada, and through De Beers’ refinancing process."

Mellier said that as CFO, Mostyn "will be instrumental in sharpening our strategic focus and helping to identify value creating opportunities.”

In November 2011, Anglo American announced an agreement with the Oppenheimer family to buy their 40 percent stake in De Beers, increasing their stake to 85 percent.