Yair Sahar, a former IDE President who served two-year term between 2011 and 2013, became the third person to be bestowed upon with the title of honorary president for his contributions to the Exchange's development and well-being after Avi Paz and Shmuel Schnitzer. 

While bestowing the title Shmuel Schnitzer elaborated, ‘It is our pleasure to bestow upon you the title of Honorary President, and for you to join Avi Paz and myself as the third former IDE president in receiving this honor. I am confident that with a new president taking up the reigns of our exchange, we will be available to offer him our counsel and advice. I congratulate you, Yair, on behalf of the board and the membership and may you go from strength to strength.’ 

Yoram Dvash also welcomed the decision saying that during these challenging times for the industry, he needs the advice and insights of the captains who have run the ship in the past and have negotiated the rough seas.