(Alliance News) - Shefa Gems Ltd said Wednesday it has promoted Vered Toledo to chief executive officer role with immediate effect.
The company's previous chief executive officer Avi Taub died in October, 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.
Vered, who was chief operations officer, worked with the late Avi Taub on the development of the company's exploration project in the Kishon Mid-Reach region, northern Israel, since its very beginning some 21 years ago.
Together with Chair Michael Rosenberg, Vered ran the company during the Taub's illness and the interim period after his death.
Meanwhile Yose Itzhak Taub, son of Avi Taub, has been appointed as corporate development executive director.
The company has also created an executive committee "to deal with the day-to-day management of the company's affairs".
Chair Michael Rosenberg said: "We are delighted to formally appoint Vered as the CEO of Shefa Gems."
"Having been involved in the business from its inception, her wealth of experience will benefit the company immensely, Rosenberg said.
Shefa Gems shares were untraded in London on Wednesday at 3.50 pence each.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Shefa Gems (SEFA)