Varda Shine to join as Independent Director at Sarine

 Varda Shine to join as Independent Director at SarineMs. Varda Shine will be joining the Board of Directors at Sarine Technologies Ltd., as an Independent Director, subject to approval at the Annual General Meeting (AGM) to be held in Singapore on 25 April 2017.

Ms. Shine’s career in the diamond industry has spanned 30 years, culminating with her being the Chief Executive Officer (CEO) of De Beers’ Diamond Trading Company (DTC) between 2006 to 2014. She has accumulated experience and expertise in fields such as corporate strategy development, expansion of markets (including into developing markets such as India and China), business development and personal development for senior employees. As CEO of the DTC, Varda led the business to then-record sales and profits, whilst pioneering new approaches to working with government partners in Botswana, Namibia, South Africa and Canada, initiatives which led to a combined annual turnover in excess of US$1 billion and created over 10,000 jobs in those countries. Under her stewardship the DTC successfully completed the multi-billion dollar relocation of its sales operations from London to Botswana.

Varda is today serving as an Independent Director of the Mineral Development Company Botswana, a company wholly owned by the Government of the Republic of Botswana, and as a Non-Executive Director of Lonmin PLC (a publicly traded company listed on both the London and Johannesburg exchanges), the third largest Platinum Group Materials mining company. She is also a Board member of the Diamond Empowerment Fund and a trustee of the Teenage Cancer Trust, a UK based charity. Varda also serves as a mentor for CEOs and C-suit executives of listed companies, with Merryck Co, a London based company, serving European listed companies, African and Far East businesses, and is an esteemed diamond industry consultant. Varda focuses on impacting change aiming to improve businesses, people and nations.

Mr. Daniel Benjamin Glinert, Sarine’s Executive Chairman of the Board said, “Her addition to our Board will bring with it a wealth of experience, knowledge and networking that will greatly benefit the Company”. Mr. Glinert added, “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. Three of the sitting Directors, Messrs. Harel, Mashiah and Stark, members of the founding shareholders’ group, have decided to step down at the end of their current term and not seek reappointment at the upcoming AGM. In their stead the Board has sought and attained Ms. Shine’s concurrence to join the Board and is actively seeking up to two additional candidates for directors, optimally with experience in the retail trade of polished diamonds in the North American and Asia Pacific markets. As these candidates have not yet been identified, the Board composition proposed for the AGM’s consideration on 25 April will comprise only seven directors. We will seek to complement the Board with up to two additional directors during 2017, whose confirmation will be brought to the following AGM in early 2018.”

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