JCK reports that Ernest Blom, better known as Ernie is stepping down after serving eight years as President of the World Federation of Diamond Bourses. During an online meeting earlier today, the organization's Executive Committee chose Israel Diamond Exchange President Yoram Dvash as acting president. According to JCK, citing a letter, Blom says he (temporarily) cannot continue in his post for "personal reasons". JCK adds that Blom's diamond company is currently caught up in a legal battle with the Dubai Diamond Exchange, member bourse of the World Federation. In a reaction to JCK Blom says the lawsuit may have influenced the decision to step down, a move Blom says he planned to do after serving nearly five two-year terms at the helm of the global organization.