LYNETTE ARMSTRONG
Sydney
Summary
Dynamic leader with a proven track record at Debswana Diamond Company, driving strategic execution and unlocking $500M in shareholder value. Expert in financial stewardship and corporate governance, fostering cultural agility and stakeholder engagement. Pioneered sustainability initiatives and empowered local communities, showcasing a commitment to corporate social responsibility and transformative leadership.
Overview
24
24
years of professional experience
Work History
Chief Financial Officer
Control Systems Technology
09.2025 - Current
- Oversaw financial management for revenue-generating projects to ensure organizational fiscal health.
- Formulated and delivered comprehensive financial reports for investors, partners, and stakeholders.
- Monitored economic conditions to assess potential impacts on organizational finances.
- Adjusted fiscal policies proactively based on available resources and desired outcomes.
- Managed budgeting processes and resource allocation across various departments.
- Optimized cash flow and treasury functions to enhance financial stability.
- Implemented financial controls and compliance measures to mitigate risks.
- Mentored finance team to develop skills and improve overall departmental efficiency.
Board Director, Chair of Audit Committee
First Capital Bank
02.2023 - Current
- Facilitated consensus-based decision-making among board members during meetings.
- Managed communication between board of directors and executive staff to ensure alignment.
- Oversaw financial reporting review, ensuring accuracy and completeness prior to board submissions.
- Monitored risk and control functions to maintain effective operational and regulatory risk management systems.
- Led external audit process, supervising auditor performance and promptly addressing identified issues.
- Supervised internal audit function, collaborating on audit plans and escalating significant weaknesses.
- Ensured compliance with legal requirements related to corporate governance practices.
Acting Managing Director
Debswana Diamond Company
08.2019 - 05.2022
- Strategic Execution: Delivered “One Dream One Team” strategy within 4 months, unlocking $500M in shareholder value and improving cultural agility.
- Record Performance: Oversaw historic plant performance and record diamond sales in 2022, the highest in Debswana’s history.
- Crisis Leadership: Maintained operations through COVID-19, implemented nationwide vaccination and health infrastructure at mine sites.
- Citizen Empowerment: Launched empowerment framework yielding USD2B in local procurement and 20,000 job targets.
- ESG Leadership: Led the “Building Forever” sustainability roadmap focused on carbon neutrality.
- Diversity Milestone: First female Acting MD in Debswana’s history; drove senior female leadership appointments.
- Innovation: Accelerated digital transformation and operational efficiency including cost savings, mine transitions, and insourcing strategies.
Chief Financial Officer
Debswana Diamond Company
12.2015 - 08.2019
- Cost Optimisation: Reduced operational costs by 20%, led asset life costing and rationalised discretionary spend.
- Capital Strategy: Introduced capital allocation approach, improving ROI by 10%.
- Governance Excellence: Introduced attestation framework, ERP governance controls, and shortened reporting cycle to 3 days.
- Financial Transformation: Rolled out new budgeting system, boosting forecast accuracy and board alignment.
- Risk Management: Implemented comprehensive risk framework and upgraded Board Audit Committee reporting.
- Stakeholder Engagement: Strengthened JV partner reporting and stakeholder communication across governance forums.
- Board Audit Committee- streamlined reporting to Board Audit committee whilst covering all key aspects.
Financial Controller
Debswana Diamond Company
10.2013 - 11.2015
- IFRS Implementation: Introduced ore stock accounting aligning with global standards.
- Cost Savings: Delivered $253M in savings through procurement controls and authority frameworks.
- Reporting Automation: Cut month-end reporting time by 75%; developed dynamic dashboards for EXCO and Board.
- Tax Risk Resolution: Nullified a $650M tax claim through strategic dispute resolution.
- Forecasting Agility: Introduced rolling forecasts improving responsiveness and financial agility.
- Governance-Improved awareness of risks, controls, ethical standards, policy and procedure.
Divisional Manager, Finance & Administration
BCL Mine
05.2012 - 09.2013
- Led financial strategy in a constrained environment, stabilizing financial processes during volatility.
- Strengthened reporting and forecasting accuracy under market pressure.
- Introduce new chart of accounts, new delegation of authority, and new spend limits enabling the company to survive during copper price declines.
Head of Finance
Tati Nickel Mine
05.2009 - 05.2012
- Enhanced governance and introduced new KPIs across sites.
- Developed capital plans and optimised cost structures.
- Stakeholder Management-Fostered relations and networking with all levels, employee engagement forums, senior leadership sessions, Mine Workers Unions, Regulators, Banks, External Auditors, Shareholders, and Government.
Business Manager
De Beers Prospecting
02.2002 - 08.2006
- Oversaw planning and operational budgeting across multiple exploration projects.
- Improved business performance tracking and supplier compliance.
Skills
- Strategic leadership and execution
- Financial stewardship and capital optimization
- Corporate governance and risk management
- Cultural agility
- Crisis and continuity leadership
- Change management
- Organizational culture and transformation
- Stakeholder engagement & board relations
- Corporate social responsibility
- Mentoring and training
Education And Professional Development
- ACCA, 02/01/98
- Accelerated Development Programme, London Business School, 02/03/08 - 04/25/08
- Debswana talent development for Executive Coaching, 04/01/16 - 01/31/17
- 100% Accountability Leadership Training, Malandro Consulting Group USA, 10/15/18 - 10/19/18
- Future Shapers, Anglo American, 10/21/18 - 10/26/18, 01/20/19 - 01/26/19
- Management Development Programme, University of Stellenbosch Graduate School of Business, 05/08/00 - 11/02/00
- Intensive Breakthrough Training, Gap International, 06/01/21
- Media Engagement for Executives, Hotwire Academy, 08/01/22
Speaking Engagements
- Learn2Lead Conference 2025, Gaborone, Botswana
- US-Africa Business Summit, Morocco, 07/01/22
- CNN Interview, Botswana Day – Dubai Expo 2020
- 6th AFIIA Conference, 2019, Board Effectiveness
- De Beers Women’s Summit, 2019
- BIA Biennial International Conference, 2016
Awards
- Anglo American Operational Excellence Awards, 2021 & 2022
- Absa Supplier Development Impact Award, 2021
- CEO Today Africa Award Winner, 2020
- Gold Quill Award – COVID-19 Communications & Safety Campaign
- Best ACCA Student in Botswana, 1998
Board And Governance Roles
- First Capital Bank, Board Director, Chair of Audit Committee, Current
- Botswana Accountancy Oversight Authority (BAOA), former chairperson
- Debswana, board member
- Morupule Coal Mine, board member
- Bofinet, board member
- Peo Venture Capital Fund, board member
Attributes
- Visionary
- Collaborative
- Bold
- Ethical
- Resilient
- Inclusive
Affiliations
- Cycling (road and MTB) - Cape Argus 110km cycle
- Running (fun runs and half marathons) - Two Oceans Marathon
- Arts and Crafts (Pottery, sewing, woodwork design and painting)
Timeline
Chief Financial Officer
Control Systems Technology
09.2025 - Current
Board Director, Chair of Audit Committee
First Capital Bank
02.2023 - Current
Acting Managing Director
Debswana Diamond Company
08.2019 - 05.2022
Chief Financial Officer
Debswana Diamond Company
12.2015 - 08.2019
Financial Controller
Debswana Diamond Company
10.2013 - 11.2015
Divisional Manager, Finance & Administration
BCL Mine
05.2012 - 09.2013
Head of Finance
Tati Nickel Mine
05.2009 - 05.2012
Business Manager
De Beers Prospecting
02.2002 - 08.2006