Ramat Gan, Israel–The Israel Diamond Institute announced Thursday that Chairman Shmuel Schnitzer is stepping down and will be replaced on an interim basis by Boaz Moldawksy.
Schnitzer has been chair of the IDI since late January 2016, replacing Moti Ganz.
Prior to that, he served four terms as the president of the Israel Diamond Exchange and also was president of the World Federation of Diamond Bourses. He was named an honorary president of both organizations.
Boaz Moldawksy, acting chairman of the Israel Diamond Institute
The IDI did not provide any details on why Schnitzer is leaving or his future plans, stating only in a news release that: “The board of directors of the Israel Diamond Institute would like to thank Shmuel Schnitzer for his substantial contribution to this institution … Over a public career spanning several decades, Shmuel Schnitzer has made an immense impact on the Israeli Diamond Industry and on the diamond industry around the world.”
His temporary replacement, Moldawsky, is a second-generation diamantaire who is active in the industry, serving as deputy president of the Israel Diamond Exchange, chairman of the Finance Committee and on the board of the Israel Diamond Manufacturers Association.
The IDI is a non-profit that works to bolster Israel’s position as a global diamond trading center through marketing, technological innovation, rough diamond sourcing and promotion of local manufacturing.
The position of chairman of the IDI is one that is chosen by the institute’s board of directors.