Ernest Blom proclaimed new WFDB President

General Assembly of the World Federation of Diamond Bourses (WFDB), meeting at the World Diamond Congress in Tel Aviv, unanimously approved Ernest Blom as its new president during the first working session of the World Diamond Congress in Tel Aviv on June 27, 2006. Blom, chairman of the Diamond Club of South Africa, previously served as WFDB vice president. He succeeds Shmuel Schnitzer, who steps down after completing two successive two-year terms as president.

Blom said that the global industry faces many challenges, and although he does not expect all WFDB members to accept its future decisions the majority would be in favor. He noted that by �harnessing our wisdom we can bring beneficial returns that will be beyond our expectations. I will work with anyone or any organization to bring benefits to the industry.� Blom pressed member bourses to use the WFDB Mark, which was launched earlier in the day by outgoing president Shmuel Schnitzer. �I am excited about being an ambassador for it and I urge you to be as well. My term of office will be based on delivery and making our deliberations meaningful.� The WFDB Mark is a trademarked logo, to confirm that the trade abides by the World Federation Code of Principles. A bourse member will be able to display the WFDB Mark as long as he or she is in good standing.

Following Blom�s appointment as president, Israel Diamond Exchange President Avi Paz was unanimously voted in as WFDB vice president. Michael Vaughan remains Secretary-General, and Dieter Hahn, similarly, was re-elected as Treasurer General. Following a vote, three additional members of the executive board were elected: David Marcus of the Diamond Club West Coast; Freddy Hager, President of London Diamond Bourse & Club, and Sergei Oulin, Chairman, Diamond Chamber of Russia. They join Anoop Mehta, President of the Bharat Diamond Bourse of Mumbai and Jacob Banda, President of the Diamond Dealers Club of New York, whose bourses have permanent status on the executive committee.