Alrosa’s new president Sergei Vybornov told the Russian news agency Interfax in an interview that the company may consider floating an initial public offering (IPO) if its sales increased. %% “I would not start talking about an IPO while sales are at around $3 billion. As soon as Alrosa opens up then things will become clear. A share float? Why not?” Vybornov said. But he said Alrosa would need to remain cautious as there are no proven case histories to rely on from the diamond industry. %% “If we do this, it'll be a pilot project from the point of view of the world diamond business. It's a good project because if you talk about the diamond business as a whole, then openness and transparency are long overdue,” Vybornov told. %% Vybornov said that Alrosa had changed its stance with regard to appealing the European Commission ban on De Beers from buying Alrosa’s diamonds from 2009 onwards. “I don't think our legal action really solves anything. Procedures are at issue and this won't change the EC's stance,” he said, adding that the company would in any case need to develop new channels for selling its rough following the scrapping of the export quotas. %% In related news, Vybornov appointed Yuri A. Doinikov as the first vice-president, executive director of Alrosa, effective from March 1st, 2007. Doinikov was the former director of the Alrosa Mirny Division. %% Petr M. Glagolev, the former Alrosa first vice-president, was reassigned to the Moscow office as Alrosa vice-president.