Stephen Lussier Steps Down From De Beers, Will Remain Adviser to Group

·2 min read

LONDON — De Beers veteran Stephen Lussier is stepping down from his executive roles after 37 years and making way for former Tiffany & Co. manager Marc Jacheet.

Lussier, whose title is De Beers Group executive vice president for brands and consumer markets, will leave his role on April 1, but will continue to contribute to De Beers as a strategic adviser.

More from WWD

He will also continue to serve as chairman of the Natural Diamond Council, a consumer and industry body that describes itself as a resource and authority on mined diamonds.

Jacheet was most recently president of Tiffany & Co. Europe, Middle East and Africa, and prior to that served as president of Tiffany’s Asia Pacific region. He has also held many global marketing roles with LVMH Moët Hennessy Louis Vuitton, Danone and Unilever in Europe and the U.S.

Bruce Cleaver, CEO of De Beers Group, said that Lussier’s contribution to De Beers and the entire diamond industry “is singular and wide-reaching. For 37 years, he has shaped the soul of our product and reminded us of the preciousness, beauty and positive impact of natural diamonds.”

Cleaver said Lussier’s name and legacy will be “forever linked to De Beers Group. Stephen leaves in place an exceptional leadership team that is as passionate about the role of diamonds in culture and communities as he has been.”

Lussier said he is “proud of the markets we have opened, the brands we have built and the diamond dream that has guided us at every step. I am particularly pleased to have identified Marc as an individual with the insight and leadership skills to guide De Beers’ consumer strategy forward into an exciting new era for the group and the diamond industry.”

Over the past few years, Lussier has been at the forefront of De Beers’ sustainability drive, helping to spearhead research into the carbon-zapping powers of kimberlite — the rock in which raw diamonds are encased — and working to safeguard communities and natural resources in Africa and Canada, where De Beers mines its diamonds.

He also served as CEO Forevermark, a collection of rare, traceable diamonds inscribed with microscopic identification details and sold at a limited number of locations worldwide.

Jacheet will join De Beers Group on Feb. 1 as CEO, De Beers Brands, and will join the De Beers Group executive committee with responsibility for the brands and consumer markets business unit.