Dev Shetty is stepping down as CEO of Fura Gems, and the company’s board of directors will oversee decision-making until a new CEO is appointed.
Fura, a Dubai-based gemstone-mining firm, announced last week that its senior leadership team will manage the day-to-day operations. They will work closely with the board to ensure smooth continuity.
Gaurav Gupta, a director at Fura, commented, “Restructuring our leadership team is a strategic move to advance our business strategy and build upon our achievements in the competitive gemstone market. The board of directors expresses gratitude to Dev Shetty for his contributions to Fura. Under his leadership, the company has established a strong foundation for growth and innovation.”
Shetty founded Fura in 2017 and played a pivotal role in 2023 by bringing the record-setting Estrela de Fura, a 55-carat ruby that fetched $35 million at auction. Fura currently operates emerald deposits in Colombia, a ruby mine in Mozambique, and a sapphire operation in Australia.
Gupta expressed confidence in the company’s future, stating, “We are well-positioned to execute our long-term strategy. The board fully supports the current management team and shares a unified vision for the strategic steps ahead for Fura Gems.”
