The London Diamond Bourse (LDB) has announced that following the recent death of its president Freddy Hager, the LDB board, or Council of Management, had been reformed and a new president and vice president appointed.

The LDB's new council is as follows:

President: Harry Levy

Vice President: Menachem E. Prager

Treasurer: David Joffe

Executive Officer: Cyril Ruttenberg

Members of the Council of Management: Anita Bruce, Paul Koppelman, Lewis Malka, Wolf Rabstein, Daniel Seller and David Weinberg.

Levy, who had served several terms as vice president under Hager in the past, said he was sad but honored to replace Hager until the next elections at the bourse, scheduled to take place in the spring of 2012.

"Freddy was first of all a friend, and losing a good friend is very difficult. The council and I will do our best to uphold Freddy's high standards," Levy stated.

World Federation of Diamond Bourses (WFDB) President Avi Paz welcomed the LDB appointment, wishing Levy well in his new position. "Harry also succeeds Freddy on the WFDB's Executive Committee and we wish him best of luck in his new responsibilities," Paz said.