FURA Gems’ CEO Dev Shetty steps down, Board of Directors to take charge until new CEO is appointed

FURA Gems stays committed to achieving a seamless transition, maintaining its focus on sustainable practices, innovation and delivering exceptional value to its partners, customers, and stakeholders

Dubai: FURA Gems Inc. DMCC, a global leader in the sustainable mining of coloured gemstones, today announced a transition in its executive leadership. The company’s current Chief Executive Officer, Mr. Dev Shetty, has decided to step down from his role to pursue other opportunities, and the Board of Directors will assume the role of the primary decision-making body until a new CEO is announced.

Management and Leadership Team

FURA Gems has designated the current senior leadership team to manage the company’s day-to-day operations in close collaboration with the Board. This team comprises the company’s existing management team, who have been instrumental in driving the company’s success and are well-positioned to ensure operational continuity and uphold FURA’s commitment to excellence.

FURA Gems is committed to achieving a seamless transition, maintaining its focus on sustainable practices, innovation and delivering exceptional value to its partners, customers, and stakeholders.

 Strategic direction of FURA Gems

The company is poised for substantial growth, driven by the increasing global demand for sustainably sourced coloured gemstones. As consumers and industries alike place a higher value on ethical and environmentally friendly practices, FURA Gems is uniquely positioned to meet these demands through its innovative mining processes and steadfast dedication to sustainability.

Legacy of Excellence and Partnership

Since its inception, FURA Gems has played a pivotal role in structuring a reliable sourced and traceable supply of high-quality gemstones to the market. The company has forged strong partnerships with industry leaders, ensuring a steady flow of gemstones that meet the highest standards of quality and ethical sourcing. These efforts have not only solidified FURA’s position in the market but have also set new benchmarks for sustainability and transparency in the gemstone industry.

 Commitment to Sustainable Growth

“The Board of Directors extends its gratitude to Dev Shetty for his contribution to FURA Gems. Under his leadership, the company has laid a solid foundation for growth and innovation. Looking forward, we are confident in our ability to execute our long-term strategy and continue FURA Gems’ commitment to sustainability and excellence in the gemstone industry. The board is fully supporting the current management team of FURA Gems and is totally aligned on the strategic steps needed to continue the journey of FURA Gems, we will operate in conjunction to achieve the ambitious objectives set for the years to come,” said Mr. Gaurav Gupta, Director, FURA Gems Board and Director of FURA’s majority shareholder.

Commenting about his departure, Mr. Dev Shetty explained, “I am very proud that in such a short period of time, FURA Gems became the only company to have all three coloured gemstone assets in its portfolio. Having founded the company in 2017, I am proud that all three mines in each of Colombia, Mozambique and Australia became the quickest mines to move from brownfields to revenue generating mines. We built this company with a focus on core values to encourage and promote community growth and sustainability. I would like to thank all the people who were involved in this amazing journey, my shareholders, colleagues and more importantly the community where we operate the mines.”

Looking Ahead

As FURA Gems embarks on this new chapter, it confirms its strong commitment to providing the finest sustainably mined gemstones to the global market.

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