Shmuel Schnitzer, the President of the Israel Diamond Exchange for the past two years, and who previously served as president from 1998 to 2004, will not be a candidate for the December elections for President of the exchange, according to a spokesperson for the bourse. The election will be contested by Yoram Dvash, owner of Yoram Dvash Diamonds, and Arnon Yuval, a partner at S. Yuval & Co. Both currently serve on the IDE’s executive committee. Dvash is the Chairman of the IDE's Industry Committee and has overseen the development of polishing plants for small diamonds and another for large diamonds. Meanwhile, Arnon Yuval is a vice president of the IDE and was in charge of the organizing committee for rough diamond week earlier this year.