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RAPAPORT... Scio Diamond Technology Corporation appointed Michael McMahon as its CEO, replacing Steve Kelley who was appointed CEO in December. McMahon has been the company's chief operating officer since 2011, and he previously held executive positions at Fluor Corporation, Jacobs Engineering and CRSS Inc., according to Scio Diamond. Shares in the company were up 2 percent to 95 cents on the OTC board in New York midday; however, the stock is down 75 percent from one year ago. Ed Adams, Scio Diamond's chairman of the board, said, ''We are delighted that Michael has accepted our offer to lead Scio. Michael's leadership in designing, building and starting up Scio's production facilities enabled Scio to now aggressively ramp production and revenue. ''His vision of mass production of diamond for both the industrial and gemstone markets is clear, concise and focused. Michael has already demonstrated a leadership perspective that fits ideally with Scio's. There is no doubt that Michael will lead Scio to being the most productive and efficient diamond operation in the world. More importantly, his strategic approach and previous experience in building successful partnerships will lead Scio to new markets that can exploit the power of diamond as a disruptive material technology,'' Adams said. McMahon added, "The growth possibilities for Scio are immense, and I look forward to leading the company to achieve its full potential. Our achievements to date in starting mass production are just the beginning. Our patented technology will enable us to continue our production ramp in the months ahead."
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