Of De Beers politics and strategy
Tuesday, August 03, 2010
Despite all the speculation as to why he is stepping down, all of which are essentially irrelevant at this stage, the reason he has given for the resignation should be accepted and respected.
De Beers announcement, which came as part of its 2010 interim report, noted that Penny is leaving the company in a strong position. The company reported that rough diamond sales rose 84 percent to $2.63 billion and that net earnings grew to $301 million, from $3 million the previous year. However, the most encouraging aspect of the report was that De Beers has restructured its debt and therefore finds itself in a far healthier position than a year ago. Reducing the company's debt by 40 percent may prove to be Penny's greatest legacy in steering the recovery and the most significant favor he pays to his successor.
It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...