President and the Board of the Israel Diamond Exchange (IDE), expressed their condolence over the passing away of Michael Cohen, first General Manager of the IDE who served the Exchange from 1952 to 1978.

Cohen passed away last month.

IDE President Shmuel Schnitzer praised Michael Cohen for being ‘one of the last pioneers of Israel's diamond industry and trade.’ Shmuel Schnitzer added, “For more than a decade he worked alongside my father, Moshe Schnitzer, expanding and strengthening the exchange complex into the ultra-modern and most secure diamond trading center in the world. Like many of this generation of industry giants, he continued to work in the industry, as a private lawyer, until well into his 80s. May his memory be blessed", stated Schnitzer, reports add.

Cohen's son, Ehud (Udi) Cohen, stated that his father during his 25 years at IDE as general manager, he managed the bourse, and also the Israel Diamond Exchange Works.