International Gemological Institute (IGI), a Blackstone portfolio company, has announced the appointment of Tehmasp Printer as its new global CEO, effective 1 October 2023.\r\n\r\nThe news comes after Roland Lorie, current CEO, decided to step down after spending nearly five decades building the \u201clargest\u201d network of gemological laboratories and schools worldwide.\r\n\r\nHe also played a pivotal role in cementing its reputation as a pioneer in the certification of natural diamonds, lab-grown diamonds, coloured stones and finished jewellery.\r\n\r\nPrinter has more than 30 years of experience in managing and leading businesses.\r\n\r\nHe has been with IGI for 24 years, most recently as managing director of IGI India, and was instrumental in introducing IGI's grading and certification practices to India's gemstone and jewellery industries.\r\n\r\nFounded in 1975 in Antwerp by the Lorie family, IGI is an independent certification of diamonds, gemstones, and jewellery, with a global footprint of 29 laboratories and 18 schools of gemology across 10 countries.\r\n\r\nPrinter said: "I am honoured to take on this new role, working closely with IGI's management team and Blackstone to continue to support the growth of IGI's footprint and technological capabilities.\r\n\r\n\u201cRoland and the Lorie family have left a lasting legacy for the business, which today has become a world leader in the certification of natural diamonds, lab-grown diamonds, and coloured stones. I am confident that with Blackstone's scale, expertise, and track record of building phenomenal businesses, IGI can continue to pave innovation in the industry and provide confidence to manufacturers, retailers and consumers around the world."\r\n\r\nLorie, current CEO, added: "Selecting Tehmasp as the new leader of IGI was effortless \u2013 he has been with IGI for more than two decades and knows the business inside and out. He brings a commitment to excellence and innovation that can help propel the company into its new chapter.\r\n\r\n\u201cOn 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."