IGI CEO Roland Lorie to Step Down This Fall
Tehmasp Printer will take over as global CEO of the lab, which is now owned by a private equity firm.
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 percent stake in the business, while the remaining 20 percent belonged to the Lories.
Marcel Lorie started IGI in Antwerp in 1975 and served as CEO until 2006, when Roland took over.
Roland has worked at the lab for a total of almost five decades, helping it expand internationally and “playing a pivotal role in cementing its reputation as a pioneer in the certification of natural diamonds, lab-grown diamonds, colored stones and finished jewelry.”
IGI currently has 29 laboratories and 18 gemology schools in 10 countries.
Printer has been with IGI for 24 years, most recently serving as managing director of IGI India.
IGI said he was instrumental in introducing its grading and certification practices to the gemstone and jewelry businesses in India.
Roland said Printer “knows the business inside and out.”
“Selecting 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 stellar reputation, teams, and trust that we’ve built over the last 50 years. I feel it’s the perfect time to pass on the baton to new leadership, and my best wishes are with Tehmasp,” Roland said.
Printer’s appointment will be effective Oct. 1. Roland will remain CEO until then and be involved with the transition.
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