Shai Shnitzer Elected President of the Diamond Exchange

In depth

Shai Shnitzer, 47, a third-generation diamond dealer, was elected president of the Diamond Exchange and will replace Nissim Zoarets. Shnitzer, who also serves as honorary consul of Lithuania in Israel, lost the previous election in 2021 and is taking office against the backdrop of the industry's crisis and a decline of about 22% in exports.

In his speech after the election, Shnitzer addressed the industry's crisis and stated that the struggle to cancel the American tariffs would be at the top of his priorities. According to him, "the work begins now". Regarding plans, he presented dealing with the crisis and said, "I do not promise magic solutions".

Shnitzer presented the new tax arrangement with the Tax Authority and strengthening activity at the Exchange as part of the tasks he will set in his role. According to the president-elect, the Ramat Gan compound will be part of the efforts, and he intends to fill the empty Exchange offices.