Petra announced that Chairman Peter Hill CBE has notified the Company that he will not offer himself for re-election at the Company's forthcoming Annual General Meeting and will retire from the Board at the conclusion of that meeting. The Board has appointed Varda Shine, Senior Independent Director, as Chair of Petra with effect from the conclusion of the Annual General Meeting. Varda will lead a search for a permanent Chair and also become Chair of the Nomination and Investment Committees.

Bernard Pryor, Non-Executive Director and Chair of the Health and Safety Committee, will become the Senior Independent Director. Varda will remain as Chair of the Remuneration Committee during this interim period. Varda Shine is the Senior Independent Director of Ecora Resources plc and a Non-Executive Director of Sarine Technologies Limited (Singapore Listed).

Varda is also an executive coach (Meryck & Co since 2014) and expert adviser in the diamond industry. A 30-year career with De Beers culminated in her appointment as CEO of De Beers Trading Company (a mid-stream business with a turnover of approximately USD 6 billion). Varda was the first woman to be awarded honorary lifetime membership of the Israel Diamond Exchange and in 2011 was inducted into the Women's Jewellery Association Hall of Fame.

Varda has also received Honorary Membership of the London Diamond Bourse. In addition to a number of appointments as a Non-Executive Director, Varda has worked extensively as an executive mentor focusing on leaders and business growth and transformation and has previously been a Non-Executive Director at Lonmin plc.