The President and the Board of Directors outline the policy of the Diamond Exchange and are responsible for the oversight and management of ongoing work in all areas of activity.
The work of the elected officials is carried out through various committees, according to defined areas of responsibility and their activities enable the management of the affairs of the members, tenants and other entities operating within the industry and the exchange buildings.
Shortly after the elections are held, the President appoints the elected members of the board as chairmen of the various committees.
The President delegates authority to the committee chairmen to lead and manage the matters of which the committee is responsible, in accordance with management policy.
In each committee, one member of the board serves as chairman, while other members serve as full committee members - together, as one body, they constitute the team that manages the committee's responsibilities.
The various committees discuss and implement management policy on matters that are within their area of responsibility with the assistance of the diamond exchange staff, who is responsible for carrying out the decisions.
Each committee includes a representative of the Audit Committee, whose job is to ensure transparency and proper management practices. In addition, according to the determination of the committee chairman, members of the public are added as observers.
The President can establish ad-hoc committees to address specific issues and projects, as needed.