WFDB appoints first executive director

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WFDB appoints first executive director

July 19, 2007

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Antwerp, Belgium—The World Federation of Diamond Bourses (WFDB) has appointed Michael Vaughan as the organization's first-ever full-time executive director.

The announcement was made by WFDB President Ernest Blom and had been ratified by the WFDB executive committee.

Vaughan currently serves in the elected post of WFDB secretary general, a position he was first elected to at the 30th World Diamond Congress in London in 2002. He will continue in that role while also serving as executive director.

The WFDB decided to appoint a professional executive director at its Presidents' Meeting held last month in Amsterdam, the Netherlands. As the WFDB strives to expand the range of services it offers to bourse members, the appointment is meant to upgrade both the organization's operation and administrative infrastructure so it can better face the challenges of today's business environment.

"The WFDB is the diamond industry's largest professional organization, encompassing a business community that handles the vast majority of diamonds reaching the world marketplace," Blom said in a statement. "Our intention is to raise its profile in the industry, with programs like the WFDB Mark, and that requires an experienced, knowledgeable and proficient professional staff. Michael is just the right person to get the job done."

Vaughan was born in London and moved to Belgium in 1981. He became a member of the Antwerpsche Diamantkring cvba, the world's leading rough-diamond bourse. In 1995, he was elected to its board of directors, and since 2003, has served as an executive member.

Vaughan also served for more than 10 years on the Permanent Commission for Liquidation of Debts, a committee of the Belgian Federation of Diamond Bourses. From 1997 to 2005, he was a member of the Marketing and Public Relations Committee of the HRD (now the Antwerp World Diamond Centre).

He was also a member of the ad-hoc task force created by the HRD to negotiate with the European community and Belgian government. The committee's task was to deliver recommendations on the "European Regulation on the Control of Conflict Diamonds," introduced to prevent the trade in conflict diamonds in Europe.

Because of his services to the Antwerpsche Diamantkring and the Belgian diamond industry, Vaughan has been honored by the King of Belgium and been made Knight in the Order of the Crown.

"I am most honored to have been offered the position of executive director and thrilled at the challenge which awaits me," Vaughan said. "The WFDB stands on the threshold of a new era, as it strives to project its presence in the industry in order to promote the interests of the members of its affiliated bourses."

He added that the marketplace needs the diamond trade to be both ethical and accountable for its actions. With its reputation and legal structure, he believes the WFDB can guarantee just that.

"From an organizational and operational standpoint this requires us to expand our infrastructure most significantly, and for me that will be the first task of business," he concluded.

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