Hod Hasharon, Israel–This spring, Sarine Technologies Ltd. CEO Uzi Levami will step down and be replaced by deputy CEO and Chief Operating Officer David Block, the company announced this week.
The 65-year-old Levami, who has been at the helm of Sarine for eight years, is stepping down due to age and for personal reasons.
In a news release announcing the succession, Sarine said, “We would like to express our heartfelt gratitude to Uzi for his stewardship of the group during this period, which commenced during the tumultuous global financial crisis.”
The transition is effective May 1.
Block has been with Sarine since 2001, starting as a product manager before heading Sarin India and then being promoted to deputy CEO and vice president of sales in June 2009.
Since 2012, Block has been both Sarine’s deputy CEO and COO. He also is a director of many of the group’s subsidiaries, including Galatea, Sarin India, Sarin Color Technologies, Sarine Polishing Technologies and Sarine North America.
He holds an MBA from the Kellogg-Recanati School of Business, which is a joint degree from Northwestern University in Chicago and Tel Aviv University in Israel, and a bachelor’s in computer science from the Tel Aviv-Jaffa Academic College in Israel.
Sarine said Block is stepping into the CEO role in a “renewed period of growth” following last year’s recovery from the turmoil that enveloped the diamond market in 2015. The company said it is “confident” he will lead the company to growth in new markets with the launch of its new automated color and clarity grading machines.
Based in Israel, Sarine Technologies Ltd. develops, makes and sells technologically advanced equipment for the planning, processing, evaluation and measurement of diamonds and gems.
The company is listed on the Singapore Exchange Mainboard.