Antwerp-International Gemological Institute CEO Roland Lorie will step down this autumn and Tehmasp Printer, who currently heads the lab’s operations in India, will take his place, IGI announced on Monday.
The announcement comes less than three months after private equity firm Blackstone paid more than $500 million to acquire the lab from a subsidiary of Chinese conglomerate Fosun and the Lorie family.
Fosun held an 80 per cent stake in the company, with the Lories owning the remaining 20 per cent.
Marcel Lorie founded IGI in Antwerp in 1975 and was CEO until 2006, when Roland took over.
In total, Roland has been with the laboratory for almost five decades, helping it to expand internationally and “playing a key role in cementing its reputation as a pioneer in the certification of natural diamonds, lab-grown diamonds, coloured stones and finished jewellery”.
IGI currently has 29 laboratories and 18 gemmological schools in 10 countries.Printer has been with IGI for 24 years, most recently as Managing Director of IGI India.
IGI said he was instrumental in introducing its grading and certification practices to the gemstone and jewellery business in India.
Roland said Printer “knows the business inside and out”.
“The selection of Tehmasp as the new leader of IGI was effortless … He brings a commitment to excellence and innovation that can help propel the company into its new chapter.
“On behalf of my family, we are incredibly proud of the outstanding reputation, teams and trust we’ve built over the last 50 years. I feel it’s the perfect time to pass the baton to new leadership and my best wishes go out to Tehmasp,” said Roland.
Printer’s appointment will take effect on 1 October. Roland will remain CEO until then and will be involved in the transition.
