Israel Diamond Institute Group of Companies (IDI) will have a new Chairman, Shmuel Schnitzer who will replace Moti Ganz in the role. Shmuel Schnitzer recently completed his term as President of the Israel Diamond Exchange (IDE) and was elected to the new role yesterday.

Moti Ganz completed three terms as Chairman of IDI.

Upon being elected, Shmuel Schnitzer said “I am pleased to continue to serve the Israeli Diamond Industry, especially during this period of economic challenge. However, I am certain that with the improvement in the economies of key markets, more balanced strategies on the part of the major rough diamond producers and the cooperation of the entire industry, we will see much better results in the coming year.”

Schnitzer first served from 1998 – 2004 as President of the Israel Diamond Exchange and was later granted the title of Honorary President of the exchange. He also served as President of the World Federation of Diamond Bourses from 2002 – 2006, and later made Honorary President of the organization. He served a fourth term as IDE President from 2013 – 2015.

Being a non-profit, public interest company representing all institutions involved in the Israeli Diamond Industry, IDI works to advance and strengthen the Israeli industry as one of the world’s leading diamond centers, through marketing, technological innovation, rough diamond sourcing and promotion of local manufacturing.