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Paz re-elected IDE president

June 26, 2009
Israel Diamond Exchange President Avi Paz.

Ramat Gan, Israel--The Israel Diamond Exchange (IDE) held biennial elections on Thursday, casting votes for president, its board and committee, according to a press release.

By an overwhelming majority, the IDE membership elected Israeli diamantaire Avi Paz to his third and final term as president of the exchange.

In addition, the membership elected Ya'akov Katan and Yair Sahar as vice presidents.

Newly elected members of the IDE board are: Yehezkel (Hezi) Blum, Mordechai (Moti) Fluk, Yehoram Harel Haimoff, Hagai HaLevi, Ya'akov (Kobi) Korn, Shalom Papir, Yosef Papo, Amotz Raz, Ben Zion Sasa, Yehuda Sayag, Ya'akov Harun Sheli, Eli Shiri, Yishai Topel and Rafi Yerushalmi.

According to the release, nearly 70 percent of the IDE's more than 2,500 members voted in the election, and Paz was re-elected with a 73 percent majority.

"I am very pleased with the vote of confidence I received today," Paz said after the results were announced. "Our industry faces a multitude of challenges in the coming year, and there is a lot of work waiting for the new board and myself. We will all work hard to turn these challenging times into new opportunities."

In addition to heading the IDE, Paz is chief executive officer of Israel-based diamond manufacturer the Avi Paz Group and is the current president of the World Federation of Diamond Bourses (WFDB).

WFDB Secretary General and Executive Director Michael Vaughn congratulated Paz on his re-election as IDE president, noting that his re-election will still allow him to run for re-election as president of the WFDB at the next World Diamond Congress in 2010.

"On behalf of our organization, I send the WFDB's congratulations and best wishes to Mr. Paz and his board for a successful and fruitful term in office," he said in the release.
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