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Charles and Colvard taps industry vets McCullough, Beasley

November 09, 2009

Morrisville, N.C.--Moissanite-maker Charles and Colvard Ltd. has appointed Randy N. McCullough, formerly of Samuels Jewelers, as its chief executive officer, and H. Marvin Beasley, formerly of Helzberg Diamonds, to its board of directors.

McCullough, who has 36 years of experience in the jewelry industry, will be responsible for the development of short- and long-term operating strategies designed to enhance shareholder value by growing top-line revenue and improving net profit and cash flow.

Beasley's responsibilities will be to add additional jewelry industry expertise to the company's board.

McCullough has been with Samuels Jewelers for the past 12 years. He started with the company in 1997 as senior vice president of merchandising and marketing; then became president and CEO in 1998 and chairman of the board in 2008.

Prior to Samuels, McCullough was president and CEO of Silverman's Factory Jewelers, a vertically integrated retail jewelry chain in the southwestern United States.

McCullough began his career with A.A. Friedman Co., a privately held retail jewelry store chain that increased from 23 stores to more than 120 during his tenure.

McCullough is a National Jeweler Retailer Hall of Fame inductee and has served as chairman of the Diamond Council of America, committee chairman of the Gemological Institute of America and director of the Jewelers Summit Advisory Council.

Beasley recently retired from Helzberg Diamonds, a retail jewelry store chain, where he was CEO for the past five years. From 2000 to 2004, Beasley was Helzberg's president and CEO, responsible for merchandising and marketing, distribution and store operations. He started at Helzberg in 1989 as senior vice president of merchandising and distribution.

Beasley began his retail jewelry career in 1973 as a merchandise manager for Best Products Co.

George R. Cattermole, Charles and Colvard's chairman of the board, said the company is extremely pleased to add McCullough and Beasley to its team.

"We believe [McCullough and Beasley's] jewelry and merchandising backgrounds will be the differentiating factors to Charles and Colvard's future success," Cattermole said in a media release. "With our recent additions of Tim Krist as our chief financial officer and Tom Pautz as our vice president of sales and marketing, we believe we have the right cross-section of talent that can execute the strategic initiatives to increase shareholder value and to reintroduce Charles and Colvard to the world."
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