Petra Diamonds CEO Richard Duffy has resigned "by mutual agreement and with immediate effect", the company said on Monday. The diamond miner said in a statement it has appointed Chief Restructuring Officer Vivek Gadodia and Juan Kemp,

The CEO change came as Petra also reported a 60% drop in earnings for the six months ending December 31. The miner, which owns two diamond mines in South Africa, had adjusted earnings before interest, taxes, depreciation and amortization of $15 million in the period, according to an interim results statement.

In a recent announcement on Monday, UK-headquartered Petra Diamonds revealed a significant change in leadership, appointing joint chief executive officers (CEO) to take the helm. This decision follows the resignation of Richard Duffy,

Petra Diamonds on Monday said it has appointed joint CEOs to replace Richard Duffy, who has resigned "by mutual agreement and with immediate effect" amid a wider loss of $69 million for the half-year to December 2024.