Ramat Gan: Shmuel Schnitzer, who recently completed his term as President of the Israel Diamond Exchange (IDE), was elected yesterday as Chairman of the Israel Diamond Institute Group of Companies (IDI). He replaces Moti Ganz, who completed three terms as Chairman of IDI.

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 was made Honorary President of the organization.

Shmuel Schnitzer served a fourth term as IDE President from 2013 – 2015. 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.”