The World Diamond Council (WDC) has selected former World Federation of Diamond Bourses (WFDB) President Avi Paz to replace outgoing head Eli Izhakoff until the next WDC elections which will be scheduled to take place by the end of 2013.
Izhakoff told the WDC’s Ninth Annual Meeting, taking place in Tel Aviv, that he plans to step down from the role at the end of next month following 13 years in the post at which point Paz will take over.
Izhakoff said that Paz would be an “excellent president” since he has a wealth of experience, both as the former president of both the WFDB and the Israel Diamond Exchange, as well as serving for many years on the WDC board of directors.
Paz paid tribute to Izhakoff’s work as WDC president, saying it was premature to speak of his input into the WDC in the past tense as his influence on the organization would be felt for many years to come.
“One must remember that Eli took on a position that had never existed, and that had no precedent, and made it what it is,” Paz said.
He said that although vigorous debate would continue to be held among the different members of the WDC, decisions could only be made on a consensus basis. He also said there was a need for members to be flexible in order the push through reforms.
“That does not mean that was agreed in the past was wrong, but simply that we need to adapt to change,” Paz told participants at the meeting that began on May 5 and ended on 6th.