Shai Schnitzer Elected President of Israel Diamond Exchange

Shai Schnitzer was elected president of the Israel Diamond Exchange in Ramat Gan on Wednesday, succeeding the Previous President of the Israel Diamond Exchange, who was elected in 2024. Schnitzer, 47, president of S. Schnitzer Diamonds, represents a third generation of diamond merchants and brings 25 years of industry experience to the role. He previously ran for the presidency in 2021 but lost to Boaz Moldavsky. Schnitzer is the son of Shmuel Schnitzer, a two-term former president of the exchange, and the grandson of Moshe Schnitzer, one of the exchange's founders and a long-time president, thus continuing a three-generation family tradition of leadership.

Schnitzer assumes leadership during a challenging period for the Israeli diamond industry, marked by declining exports and U.S. tariffs. According to Central Bureau of Statistics data published in Calcalist, diamond processing exports fell from $4.9 billion in 2024 to $3.6 billion in 2025. In the first half of 2026, polished diamond exports saw a further 22.3% decrease, reaching $626 million.

Upon his election, Schnitzer stated his priorities would include fighting the U.S. tariffs, implementing and making accessible the new tax agreement with the Israel Tax Authority for exchange members, strengthening business activity, and promoting solutions for building occupancy within the exchange complex. The new tax agreement, signed last month between the Diamond Exchange and the Israel Tax Authority for 2027-2028, allows participating diamond dealers to pre-determine their taxable income at a rate of 1.3% of turnover, aiming to enhance the Israeli industry's competitiveness.

"The diamond industry faces significant challenges, and the work begins now," Schnitzer said. "My priorities will be the fight to cancel American tariffs, the implementation and accessibility of the tax agreement for members, strengthening business activity at the exchange, and promoting practical solutions for building occupancy." He added his intention to collaborate with the government, banks, and business partners domestically and internationally. "I don't promise magic solutions. I commit to serious work, listening, and transparency, so we can strengthen the industry and build a future for the next generation," he stated. Schnitzer has previously served on the Diamond Exchange's board and presidency, chaired the rough diamond committee and the technology and innovation committee, and was a board member of the Israel Diamond Manufacturers Association. He currently also serves as the Honorary Consul of Lithuania in Israel, a member of the Israeli Consular Staff Management, and a director of a public real estate company.