Shefa Gems Ltd. announced that Avi Taub, Chief Executive Officer of the company, has passed away following a short illness. During the period of Avi's illness, the Company's processes were run by the Chairman, Michael Rosenberg and Vered Toledo, Chief Operating Officer with the support of the administrative team including Yossi Taub, the son of Avi, and they will continue to do so in the interim period.