“Women of the Diamond Industry” focuses on the issue of gender equality along the entire diamond and jewelry supply chain. The series provides a platform for women in the industry to tell their own stories and describe the particular challenges they have faced in their careers.
The 16th article in the series is authored by Susan Jacques, President and CEO of the Gemological Institute of America (GIA) since January 2014, after serving in an interim capacity the previous year. For two decades prior to that, she was President and CEO of Borsheim’s Fine Jewelry and Gifts in Omaha, Nebraska, a Berkshire Hathaway company.
A journey of much more than a thousand miles
GIA President and CEO Susan Jacques.
OCTOBER 10, 2024
“A journey of a thousand miles begins with a single step,” wrote Lao Tzu, the ancient Chinese philosopher. It’s one of my favorite quotes, and it is I believe reflective of my own experience, as well as my journey over the past four decades, which has been both incredible and inspiring.
I have been truly blessed to have had two dream jobs in my career – at Borsheims, in Omaha, Nebraska, and now at GIA. Both have been in an industry that I am passionate about, working with incredible teams of committed and dedicated colleagues, who find purpose and meaning in what we do each day.
I was fortunate to be born into a loving family with strong entrepreneurial parents who set my moral compass. They taught my two sisters and me the importance of integrity, ethics, honesty, respect, hard work and being a person of your word. If these principles were followed, they insisted, it would result in one earning a good name and reputation.
I have followed this advice throughout my life, in both my personal world and in my business career. I am grateful for the trusted reputation that I have been fortunate to earn.
Out of Africa
As a young girl growing up in Zimbabwe, I could not imagine that I would be so lucky to have led the life that I have, and also that a childhood passion for picking up rocks and shells would continue throughout. It lead me into a fascinating field, and to travel the world to wondrous places, meeting captivating people, experiencing amazing cultures, and constantly learning things that were new and exciting.
Early days in Zimbabwe, (above), Susan (right) with her sisters, Diana (left) and Margaret in 1965; and (below, from left) in 1977, Susan, Margaret and Diana.
I was given opportunities growing up that regrettably most of my country’s people were not afforded. As a White Zimbabwean, or what then was called a Rhodesian, I was born into a life of privilege. It was not until my teenage years that I truly understood the meaning of racial segregation, which was the policy of the political regime in power, and the reason for the war of independence through which we lived.
The minority rule of a White population of 300,000 people, left the majority 7 million Black people without a vote or say in the running of their country. I and my multiracial group of friends were treated to harassment and bullying when we were together in town, and such experiences helped me to understand the importance of respect, the right of each and every one of us to be our authentic selves, the richness that is provided by diversity and inclusion, and the fact that love can be such a powerful emotion when so many others were filled with hate.
When I graduated from high school, I had no idea what I wanted to do. My loving mother insisted that I go to the local polytech college and get a secretarial diploma, which she said would always ensure I had a job! And my first job upon graduating was as a junior typist at Scottish Jewellers, the largest jewelry company in Zimbabwe, with both manufacturing facilities and retail stores. It was my first step into our industry. I found my passion and knew that I wanted to learn more.
But with the political situation in the country being so unstable, my parents moved their three daughters, along with my best friend, to the safer environment of London. I was fortunate to get a great temporary secretarial position on the executive floor at EMI, a large conglomerate in the city, where I learned a great deal about various businesses by observing the leadership team in action.
But I missed Africa, and convinced my parents to let me return home about nine months later. I went back to Scottish Jewellers, this time into a role in the marketing department.
My boss at the time was studying GIA courses by correspondence, and I begged my parents to instead send me to the United States to study at GIA in residence. Colleagues and friends joined me, and five of us came from Zimbabwe into the same class in June 1980.
A path beginning in Nebraska
At the GIA campus in Santa Monica, California, where I earned my Graduate Gemologist Diploma, I had no idea of the path along which my life would take me.
After graduating I joined a small gemstone grading laboratory in Santa Ana, Orange County. I loved the work, but unfortunately the economy tanked, and we were cut from a five-day work week to a three-day week. Having just purchased my first new car, at a 22 percent interest rate, and the rent for my lovely apartment being more than I could afford, I needed to move.
Susan Jacques together with Warren Buffett, Chairman and CEO of Berkshire Hathaway, which owns Borsheim’s Fine Jewelry and Gifts.
A dear friend and classmate from GIA, Alan Friedman, suggested that I come to Omaha, Nebraska, to work at his family’s jewelry store, Borsheims. This was definitely not in my life plan, but I decided that you can do anything for one year, and so I packed up my new car and drove to Nebraska. I ended up staying for 31 years!
It was in Omaha that I met my incredible and supportive husband Gene, had three wonderful sons, Luke, Jake and Cole, and I immersed myself in Omaha’s business community. I loved my life in retail and the opportunity to help clients select treasures for themselves, or as gifts. It was a privilege to work with and lead such a great team of dedicated and committed professionals.
Eleven years after joining Borsheims I was fortunate to be called to the owner’s office one day to meet with him. He, of course, is Warren Buffett, whose holding company, Berkshire Hathaway, has owned Borsheims since 1989.
Warren offered me the job as President and CEO, as our serving CEO was about to step down. I was 34 years old at the time and had never attended college, so I spent the next hour explaining to him what a terrible idea it actually was.
Thankfully Warren was not convinced. He said he believed I was capable of the role. I agreed to take the position, as long as I could go back to doing what I loved – selling and buying – if it did not work out.
But it did, and I was fortunate to be CEO of Borsheims for 20 years, heading a extraordinary retail operation with a dedicated and committed team of colleagues. Together we helped clients celebrate the milestones of their lives.
Susan Jacques as CEO of Borsheims, a position she held for 20 years.
Ensuring confidence in the jewelry industry
In 2013 I was the Chair of the Board of GIA when our President stepped down and I was asked to step in as the interim CEO.
I asked Warren for the permission to do this, as it required me flying to Carlsbad in California from Omaha each week, to work Monday through Thursday, and then back at Borsheims for Friday and Saturday. Sunday was spent with my family, including my six-year-old, late-in-life son.
I was offered the opportunity to lead GIA permanently, at the end of an extensive executive search for the next CEO, and I am privileged to have served this remarkable organization for the past 11 years.
GIA is a mission-driven organization, with the important objective of ensuring consumer confidence in the gem and jewelry industry. We take our purpose-driven roles very seriously, and I am honored to be able to lead our 3,400 employees around the world, in our laboratories, schools, research and instrument divisions, as well as our support teams.
We believe strongly in the importance of ensuring that our GIA brand of trust, independence and excellence continues to be a leading force of positive change in the industry.
Back in Africa – Susan Jacques during a visit to the Letšeng Diamond Mine in Lesotho. She is flanked by Tom Moses (left), GIA’s Executive Vice President, and Dr. Wuyi Wang, GIA’s Vice President of Research and Development.
Respecting the path, but embracing the future
As I reflect on my life now, I am mindful of how lucky I have been, to be in the right place at the right time, and for the chance to follow new and exciting paths.
We are in the emotion business of celebrations, love and joy, and happiness and gratitude. How blessed are we all to be a part of such an inspiring industry, helping people to celebrate their milestones in life with rare treasures of Mother Nature, crafted by talented designers and artists, into exquisite jewelry. These cherished gifts are delightedly given, and excitedly received, and are often passed down as heirlooms with treasured memories to future generations.
The experiences that helped guide me and my colleagues, both at Borsheims for 31 years and at GIA for the past 11, built upon the foundation laid by our founders, and subsequent leaders, of each of these incredible businesses. To know that our contribution has made a difference and that we are passionate, dedicated and committed to excellence, underpinned with the utmost integrity and trust, makes me proud and ensures that the stellar reputation of these great organizations continues.
As I enter the sunset of my career I reflect on the past with gratitude, and with excitement for what the future holds. We have great new talent rising in our industry, to take the torch and lead us into tomorrow – which I believe will be bright, and filled with new opportunities and fresh ideas.
The future is coming at us at an accelerated pace that we never have seen before. But we need to embrace it.
We must safeguard the vitality of our industry, looking forward as we honor our past. We need to remain relevant amid the ever-changing consumer taste, changing social norms, new technologies, and challenging world events. We must work together, collaboratively and cooperatively, to find new ways that ensure consumer confidence in our industry, with optimism, passion and kindness.
These are certainly challenging times, but from our greatest challenges often come our greatest opportunities. I approach each day with positivity, optimism and gratitude, and a curiosity to find the best path forward.
In closing I would like to share another of my favorite quotes, this by Adrian Rogers, a clergyman and writer: “When going through life and traveling in the direction of your dreams, the best way to get ahead is the simplest way – take it one step at a time. Don’t look over your shoulder; if you do, you’ll feel the weight of all of your yesterdays upon you, and don’t worry about what lies ahead. By the time you get to the bend in the road, or the crest of the hill, you are going to be better and stronger than you ever were before. Just go one step at a time, one day at a time, and you’ll find a rich, thankful life you never thought you could afford.”
Susan Jacques and her husband Gene.