Roland Lorie, global CEO of the International Gemological Institute (IGI), is leaving his post after nearly 50 years with the company. Tehmasp Printer, head of IGI India, is replacing him.

Printer, who has been with IGI for 24 years, will take office on October 1, according to the institute. Roland is departing IGI, a company founded in 1975 by his father, Marcel. 

US-based private equity firm Blackstone acquired IGI in May this year from a subsidiary of Chinese conglomerate Fosun Group and the Lorie family.

Printer’s most recent post is managing director of IGI India. According to IGI, he was instrumental in introducing IGI’s grading and certification practices to India’s gemstone and jewellery industry.

“Selecting Tehmasp as the new leader of IGI was effortless – 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,” Lorie said.

Printer said he will continue working closely with IGI’s management team and Blackstone to support the growth of IGI’s footprint and technological capabilities.