Schnitzer, a lawyer by training, and a graduate of the Hebrew University in Jerusalem, is one of the leading diamantaires in the world and in the past served as IDE president for six years from 1998 to 2004.
Shmuel Schnitzer was elected today (Wednesday) as Israel Diamond Exchange President.
Out of a total of 2,114 members who voted out of a total 2,697 IDE members with the right to vote, Schnitzer received 1,226 votes (57 percent) while Sahar received 888 votes (41 percent).
Schnitzer, a lawyer, and a graduate of the Hebrew University in Jerusalem, is one of the leading diamantaires in the world and in the past served as IDE president for six years from 1998 to 2004.
He started out in the diamond industry in 1972 and three years later joined the IDE as a member. In addition to his private company business, Schnitzer has worked for many years to promote the work of the Israel Diamond Exchange in a wide range of positions in Israel and globally.
He is the honorary president of the World Federation of Diamond Bourses (WFDB), of the Israel Diamond Exchange, and deputy chairman of the World Diamond Council (WDC). He started out in public life in 1988 as a member of the workers' committee of the Israel Diamond Manufacturers Association where he served in a range of posts, including as deputy president of the association, chairman of the Legal Committee and of the Finance Committee.
Currently, Schnitzer is head of S. Schnitzer Diamonds Ltd, one of the leading companies in the Israeli diamond sector. In addition, he serves as a member of the presidency of the Israel Diamond Manufacturers Association and chairman of its Finance Committee.
He also serves as a member of the committee advising the Shanghai Diamond Exchange which he has performed since the Chinese exchange was opened.
Outgoing IDE President Yair Sahar praised Schnitzer, and wished him well.
