Group Associates

The Group Associates are responsible for the Group’s long term development and strategy as well as controlling and evaluating the company’s operations. They also provide the CEO with guidelines and instructions for the daily management of the Group. During the year, the Group Associates review the business plans and strategies for the various businesses in the Rosy Blue Group. The Group Associates also review the financial positions of the different entities on a regular basis and act in order to ascertain that there are efficient systems to follow up and control the business and financial position of the Rosy Blue Group.

The Group Associates currently consist of:

• Baron Dilip Mehta / Dipu Mehta / Vishal Mehta
• Arunkumar Mehta / Russell Mehta
• Harshad Mehta / Rihen Mehta
• Amit Bhansali / Ravi Bhansali

Family Council

The Rosy Blue Family Council is an acknowledgment that; participation, open communication, information sharing and constructive debate are needed in today's complex family and business environment.
FUNCTIONING:

• to represent all family interest;
• to establish a unified and consistent approach to the Group’s business strategy;
• to oversee that the business decisions that are made are in line and underwrite the ethical core values of the family;
• to inform all member on critical business and family issues;
• to promote a dialogue on important business issues;
• to make the right decisions through the interaction of family and the business by participating in discussions and advising on the strategic planning of the business.

CSR Advisory Board

The Group Associates established a distinguished CSR Advisory Board; a diverse group of external industry leaders with a shared commitment to our mission of building a sustainable corporate environment. We thank our CSR Advisory Board members for their steadfast support of giving their feedback, constructive thoughts and continued guidance, strength and encouragement to further develop our standards within the diamond industry.
MEMBERS

• Mr. Thomas Leysen Chairman, Umicore Chairman of the Federation of Enterprises in Belgium
• Baron Luc Bertrand Chief Executive Officer, Ackermans & van Haaren
• Mr. Sonjoy Chatterjee Director, ICICI Bank
• Mr. Tony Phillips Former Chief Executive Officer, Barloworld

CEO

The CEO is in charge of the Group’s daily management through the Group executive management and regularly reports to and interacts with the following bodies: the Group Associates, Family Council and CSR Advisory Board.

The CEO of the Rosy Blue Group is Baron Dilip Mehta.

Audit Committee

The mission of the Audit Committee is to assist the Group Associates in the following areas:

• financial information;
• internal control and risk management;
• internal audit;
• external audit.

The audit committee oversees the accounting and financial reporting processes and the audit of the financial statements of the Group. It is responsible for the quality of the company’s financial reporting through reviewing the interim reports and the annual report. In addition it has the task of evaluating all auditors’ work as well as to provide the CEO and the Group Associates with the results of this evaluation. External auditors are appointed locally.

AML & Anti-Corruption Committee

The Group Associates have appointed this committee to report globally to the Group Associates on the relevant areas within the framework of anti-money laundering, anti-bribery and anti-corruption compliance standards. There is a Global AML Compliance Manager and Local CSR-AML compliance officers who report according to the standards.

The main responsibilities of the committee are to :

• streamline and integrate policies and procedures, implement internal controls reasonably designed to assure compliance by verifying customer identification, file reports, detect suspicious activities, create and retain records, and respond to law enforcement requests;
• provide for an independent review to monitor and maintain this compliance program;
• coordinate with the Global AML compliance Manager on making sound recommendations on improving processes and procedures to combat money laundering and corruption.

MEMBERS:

• Nayan Pansare
• Bart Duhamel
• Pranay Narvekar
• B.S. Vadivelu
• Maulik R Shah

Corporate Affairs Committee

The committee's role is to expand Rosy Blue Group’s social responsibility and sustainable development activities and will be in detail described in this report later.

The responsibilities of the Corporate Affairs and sustainability Committee include the following:

• Review, discuss and monitor the Group’s Corporate Social Responsibility work, including all compliance standards (Rosy Blue compliance model, BPP, UNGC, RJC et al).
• Monitor the Group’s progress on compliance against strategic objectives and KPI targets.
• Review and discuss the Group’s CSR initiatives and goals in light of the Group’s overall business strategy, including impact of the initiatives on business objectives.
• Review and discuss the Group’s CSR strategy, including discussion of applicable social, economic and environmental trends.
• Ensure alignment between the Group Executive Management and the Group Associates and all the employees on the implementation of the Group’s CSR goals.

MEMBERS:

• Iris Van der Veken
• Francis Lappen
• Keshav Tahilramani
• Palitha Jayaseekera
• Francis Abraham

Group Executive Management

The Group Executive Management comprises those who report via designated reporting lines through the CEO to the Group Associates. At year’s end 2008 there were 24 Group executive management members.

The Group Executive Management is in charge of the daily operations of the local entity. This objective requires a group of senior executives that are responsible, on a daily basis, for the commercial, manufacturing and distribution activities in their respective regions, as well as the development of regional strategy and investment recommendations. These senior managers are accountable for their entity’s performance. Regular meetings are lead by the Group Associates to deal with group wide issues and issues affecting more than one business area, and supply information concerning the local entity’s performance.

MEMBERS:

Personal Advisor to the CEO

Chikashi Miyamoto

Global AML Compliance Manager

Karl French

Manager Corporate Affairs Global

Iris Van der Veken