Decision was made last year, allowing "ample time" to find successor.
Eli Izhakoff, president of the World Diamond Council (WDC), has announced that he will step down from his role on June 30, after 13 consecutive years at the helm of the New York-based diamond organisation.
Izhakoff expressed his desire to step down at the WDC’s annual meeting in Vicenza last May. The decision is said to be “entirely personal”, with Izhakoff choosing to leave in June this year to allow allow ample time for a successor to be elected and a smooth transition to take place.
He said: "It has been an often challenging, but always inspiring period of my career and one of which I am immensely proud.
“The World Diamond Council, which was created in response to one of the gravest crises to face our industry, not only was instrumental in creating the system that blocked the flow of conflict diamonds into the legitimate trade, but it also changed the way in which we see our role as a business community in a greater society. It also changed way in which are regarded by our stakeholders and our consumers."
Izhakoff said it was now time for him and the World Diamond Council “to move on”, and said the WDC is now preparing for the future with its Steering Committee – appointed in 2012 – already working on reforms within the organisation, which should be adopted and implemented by June 30 this year.
“The WDC is evolving and adapting for the years ahead, and it with that same spirit of renewal I believe a new president should assume responsibility," added Izhakoff.
Izhakoff plans to remain involved in diamond and jewellery industries, and says he will continue to support the World Diamond Council.