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RAPAPORT... Charles & Colvard Ltd. appointed Marvin Beasley to the position of president and CEO to succeed Randy McCullough, who informed the board on March 17 that he was retiring. Beasley has served as a director of the company since November 2009. Beasley spent the last 20 years of his retail career at Helzberg Diamonds, where he held various executive positions, including that of CEO from 2004 until his retirement in 2009.
Beasley said, “I am honored to be appointed president and CEO and am enthusiastic about leading Charles & Colvard through the opportunities and challenges that lie ahead. While our immediate priority is to execute on key initiatives, we will also take a fresh look at the business to prioritize our strategies, operations and investments to focus on growth. I look forward to working with our capable team on these efforts.” Neal Goldman, the executive chairman of the board, said, “Randy was instrumental in building our direct-to-consumer ecommerce business through Moissanite.com and launching our home party business, Lulu Avenue®. These are high-growth opportunities that are important for the company. In addition, Randy assembled a strong team of employees who are working hard to grow the business. On behalf of the entire board of directors, we would like to thank Randy for his many contributions positioning Charles & Colvard for future success.” McCullough said, “I am grateful for having had the opportunity to lead such a talented team and proud of what we accomplished during an important chapter in the company’s history. Together, we put in place structure and made investments to enable Charles & Colvard to continue to grow and transform. I am looking forward to seeing the Company’s continued growth.”
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