The World Diamond Council, which represents the industry in front of the Kimberley Process, has enacted a series of organizational reforms meant to ensure it remains reflective of the diamond chain, increase transparency in its decision-making, and shore up the group’s finances.
Among the changes:
– All members will have to be registered and pay annual dues determined by a graded fee structure.
– The group’s board of directors will need to reflect the entire diamond supply chain, with representatives of mining companies, diamond manufacturers and traders, diamond jewelry manufacturers and retailers, and industry service providers.
– The board will then elect a president and vice president, who will both serve two-year terms.
The group has also announced plans to hire a full-time, paid executive director.
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