With 13 consecutive years of serving as the head of the World Diamond Council behind him, Eli Izhakoff announced intent to conclude his term as President of the World Diamond Council on June 30, 2013. The decision was entirely personal and had been informed to the WDC Board of Directors at the WDC Annual Meeting in Vicenza, Italy, in May 2012.

Mr. Izhakoff noted that the tenuree at WDC was 'often challenging, but always inspiring period of my career'. He further added that, "The World Diamond Council, which was created in response to one of the gravest crises to face our industry, not only was instrumental in creating the system that blocked the flow of conflict diamonds into the legitimate trade, but it also changed the way in which we see our role as a business community in a greater society. It also changed way in which are regarded by our stakeholders and our consumers."

He further said that "After 13 years the WDC is preparing for the future. A Steering Committee that I appointed last year is working on reforms that will strengthen our organization, and I plan to have them adopted and implemented before June 30. The WDC is evolving and adapting for the years ahead, and it with that same spirit of renewal I believe a new president should assume responsibility." Mr. Izhakoff said that he plans to remain involved in the life of the diamond and jewelry industries, and will continue to support the mission and principles of the World Diamond Council and allow ample time for a successor to be elected and a smooth transition to take place.