Roland Lorie is stepping down as CEO of IGI after the grading lab was sold for $570m in May and will be replaced by Tehmasp Printer, who currently manages IGI's India operation. After 24 years with the company, Printer will take over as global CEO in October 2024.
IGI was founded in 1975 in Antwerp by Marcel Lorie and expanded under his son's leadership into a network of 29 laboratories and 18 gemology schools. IGI employs about 1,000 people mainly in India, and it was 80 per cent owned by China-based Fosun International Ltd, and the remaining 20 per cent belonged to Lorie.
Singapore-based BCP Asia II Topco Pte bought IGI. The company is wholly owned by Blackstone, the world's largest alternative asset management company, overseeing $991bn in assets.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
