Fyodor Andreev leaves Alrosa, based in the Sakha Republic.
The Siberian producer - owned mainly by the Russian state and the Sakha government - hopes to shine on the international market.
The world's top diamond producer is on course for a $10 billion valuation, say analysts.
Current president of Sakha-based company leaves after 'difficult' relationship with senior officials in Moscow.
A 44 per cent decline in diamond production was announced by Russian gem producer Alrosa.
Proceeds of a sale of a stake in Alrosa diamond giant will benefit local people, vows governor.
Giant gem goes on show as Siberian diamond company Alrosa issues a 16% stock float.
But there are questions over privatisation of mining giant Alrosa, the world's largest producer.
An accident involved 17 miners some 365 metres beneath the surface at Alrosa's Udachninskiy ore-dressing plant 14 km south of the Arctic Circle.
Alrosa calls for end to $25,000 ceiling on individual diamond exports.