29th Oct 2019 09:44
(Alliance News) - Shefa Gems Ltd said Tuesday that Chief Executive Officer Avi Taub has died following a short period of illness.
He had been part of the Israeli gemstone explorer for 20 years since 1999, as one of the company's founders.
During Taub's illness, Shefa's company processes were run by Chair Michael Rosenberg and Chief Operating Officer Vered Toledo with the support of the administrative team, and this will continue in the interim period.
Shefa has not yet named a replacement for Taub.
Shares in Shefa Gems - which is headquartered in Akko, Israel - were untraded on Tuesday in London. The company has a GBP7.0 million market capitalisation.
"It is with great sadness that we learned about the death of Avi, who contributed so much to what Shefa is and what it will be. Due to the unique origins of the company, he always saw himself as a custodian and built a business to last. His guidance, intelligence and humour will be sorely missed by all in the company. The team he put together is determined to carry on and fulfil his vision of building a successful "Mine-to-Market" precious gemstones company," Rosenberg said.
By Dayo Laniyan; [email protected]
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