The World Federation of Diamond Bourses is mourning the death of former president Yitzchak Forem, who died today after a prolonged illness.

Forem served as president of the Israel Diamond Exchange between 1993 and 1998, and as WFDB president from 1998 to 2000.

Born in Poland in 1938, Forem survived the Holocaust and immigrated to Israel in 1949. He served for a lengthy period in the Israeli army, where he reached the rank of lieutenant colonel (Res.)

He joined the diamond business in 1978, became an independent diamantaire in 1983, and in 1987 was elected to the board of the Israel Diamond Exchange. While on the board, he served as chairman of the IDE Financial Committee, Security Committee and General Affairs Committee. He also served a term as IDE vice president. In 1993 he was elected IDE president, serving three terms, until 1998. Toward the end of his third term at IDE, he was elected to serve as WFDB president.

WFDB president Avi Paz called Forem “a bridge builder, a kind and attentive man who would give his time to his fellow diamantaires, extend his help to solve both their problems and those of the diamond business at large.

“On behalf of the WFDB executive committee and the WFDB member bourses, we send heartfelt condolences to his family and countless friends,” Paz said.

JCK