Shmuel Schnitzer Wins Election For IDE Presidency

Former Israel Diamond Exchange president Shmuel Schnitzer has been re-elected to the post. Schnitzer previously served as IDE president from 1998 to 2004.
He replaces Yair Sahar who served just one term as president after being elected two years ago.
Schnitzer, began in the diamond industry in 1972, and is a well known figure in the Israeli and global diamond industry.
He was honorary president of the Israel Diamond Exchange prior to his election. He is also honorary president of the World Federation of Diamond Bourses (WFDB), and deputy chairman of the World Diamond Council (WDC).
Schnitzer said that reviving the domestic diamond manufacturing sector was one of his top priorities, and the issue of industry financing was also critical.
He said during his election campaign that a further important target was to reach an agreement with the Income Tax authority. He also called for a limit on the number of new IDE members, and the promotion of women members of the IDE.