Stephen Wetherall, CEO of Lucapa Diamond Company, in Antwerp
Lucapa Diamond Company has announced that it’s managing director and chief executive officer, Stephen Wetherall, will be stepping down at the end of this month. In the interim, the board has appointed Nick Selby as the interim chief executive officer. Selby has been serving as the executive director of operations since September 2017.
The terms of employment, Nick Selby will remain unchanged from those outlined in Lucapa Diamond Company’s 2022 Annual Report. As the outgoing chief executive officer, Wetherall will work closely with Selby and the management team to facilitate a smooth transition during this period. Upon the conclusion of his employment, the company intends to engage Stephen Wetherall independently as a consultant, with a focus on diamond marketing and downstream initiatives.
Miles Kennedy, chairman of Lucapa Diamond Company, expressed his gratitude to Stephen Wetherall. “On behalf of the board, I would like to thank Stephen for his unwavering commitment to this company and advancing our vision,” he says. “Stephen joined the company in 2014 and during this time has helped Lucapa grow and transform from a pure exploration company into an integrated multi-asset diamond group with niche high-value assets spanning exploration, mine development and production while at the same time establishing unique multi-channel marketing streams for our mines to derive both value at the rough mine gate as well as downstream value… Stephen has been an integral part of Lucapa’s growth, I wish Stephen all the best with his new ventures and look forward to our continued association.”
Stephen Wetherall, the outgoing chief executive officer, reflected on his tenure, expressing his satisfaction in overcoming the challenges presented. “I have thrived on the challenges put to me by the board and shareholders and have together with our valued teams worked hard to build on our vision. We have together navigated the company successfully through a difficult pandemic, repaid all the project interest-bearing debt, successfully delivered, and expanded two mining operations now generating solid margins, [and] positioned the company for growth with future production from Merlin and our kimberlite exploration program at Lulo is at an advanced and exciting phase,” he says.
“This is an appropriate time for me to take on other challenges and whilst I step aside, it is with a lot of pride, that I leave a group of exceptionally experienced and talented people to continue to advance Lucapa’s vision. I look forward to our continued association and watching them continue to deliver,” he adds.