Shares in Gemfields Group Limited (AIM:GEM) jumped 13% on Monday after the gemstone miner announced the appointment of Louis du Preez as a non-executive director.
Du Preez, a South African corporate lawyer and chief executive of Ibex Holdings, brings decades of legal, governance and boardroom experience to the company.
His appointment, representing shareholder Rational Expectations, was approved by shareholders at Gemfields’ annual meeting and follows completion of regulatory due diligence.
Du Preez previously served as general counsel and commercial director at Steinhoff International before taking on the CEO role during its restructuring.
He also holds a directorship at Pepkor Holdings and has past board experience at KAP Industrial Holdings.
His background includes senior roles in South Africa’s top legal firms, with a focus on cross-border transactions and corporate strategy.
Gemfields said his addition would strengthen its board as it looks to navigate its next phase of growth.
The stock rose 0.65p to 6p.