The Antwerp World Diamond Centre (AWDC), apex body of the diamond trade in Antwerp, has appointed Nishit (Bali) Parikh as its new President, replacing outgoing President Stéphane Fischler, the AWDC announced in a statement yesterday. Fischler, AWDC President for the past five years, said he believed the time had come to hand over the reins due to his recent election as President of the World Diamond Council.

The Board of Directors also appointed Freddy Inzlicht and Samir Mehta as Vice-Presidents, respectively representing the bourses and the trade, the statement said.

Parikh, who is CEO of Diarough has earlier served as President of AWDC from 2010-12.

Outgoing president Fischler, a partner in the international company Fischler Diamonds, has held senior positions in the AWDC Board for the past 11 years including first as Vice-President and then President since 2012. He has also held positions of responsibility in in multiple industry organisations.

“On behalf of the AWDC, its Board of Directors and management, I would like to thank Stéphane for his leadership at AWDC and his dedication to the Antwerp diamond trade,” says AWDC CEO Ari Epstein. “His steadfast commitment to safeguarding the sustainability of the diamond industry as a whole, and in particular the Antwerp trade, its manufacturing infrastructure and its participants both large and small, has contributed in maintaining Antwerp’s leading position. He leaves a strong legacy for the AWDC.”

Welcoming Nishit Parikh as the new President of AWDC, Epstein commented, “Continuity, stability and a formidable personality are all essential elements in the diamond trade, and Bali (Parikh) embodies all these qualities. We are very pleased to welcome him back as President of the AWDC, and have every confidence he will be a strong leader in the important years ahead, backed by the support of the incoming Vice Presidents and Board veterans Freddy Inzlicht and Samir Mehta.”