Philippe Mellier, who will be 61 this year, is passing the De Beers baton on to CEO-designate Bruce Cleaver, who is ten years his junior, but with twice the years’ service at the world’s biggest diamond producer by value. Cleaver co-acted as De Beers CEO between Gareth Penny’s departure and Mellier’s accession in 2011. The former lawyer, who has an applied mathematics degree from the University of Cape Town, is taking over during a period of fragile recovery. Mellier, who steered the company through rough patches last year, may now, if a French newspaper report is correct, be heading for Air France. RBC Europe diamond analyst Des Kilalea contends that De Beers’ flexible approach under Mellier – of lowering prices and allowing its sightholders to leave goods on the table – will be continued under Cleaver. De Beers is expected to mine fewer carats this year than the 28.7-million of last, against the backdrop of the underlying earnings of the 85%-Anglo-owned company shrinking 72% last year to $285-million.