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Charles & Colvard, Ltd. is a global source of moissanite jewelry. The company has recently announced that its Board of Directors has just appointed Don O'Connell to President and Chief Executive Officer. The position will be effective as of June 1st, 2020, and O'Connell will join the Board of Directors as well. 

O'Connell's previous position was COO and Senior Vice President, Supply Chain of Charles & Colvard. He will succeed Suzanne Miglucci. She resigned as President and CEO as well as relinquished her Board of Directors seat.

According to a statement by Chairman of the Board of Directors of Charles & Colvard, Neal Goldman, “Even in these changing times, we believe the market opportunity continues to exist for our gemstones and jewelry, which offer exceptional quality and value, balanced with environmental and social responsibility. The Company has made significant progress over the past several years, growing Online Channels sales, expanding margins, achieving profitability, and maintaining a healthy balance sheet. We want to thank Suzanne for her visionary and strategic contributions, including pivoting to an e-commerce driven business, establishing a respected direct-to-consumer brand, building sophisticated digital marketing capabilities, and raising capital to fund future investments.”

“Given the current challenging economic and retail industry circumstances, we are pleased to have a seamless transition in leadership. Don has broad operational expertise, substantial industry knowledge and strong supply chain and brick-and-mortar relationships. As we transition through the COVID-19 crisis and adapt to the new operating environment, we believe Don’s proven operational ability to deliver efficiency and cost savings while managing the product development and merchandising teams to deliver premium quality jewelry and assortments to our customers will enable us to navigate the necessary changes ahead. Don has been the catalyst for the creation of our luxury award-winning Signature Collection, which represents a growing part of Charles & Colvard’s success. We will continue building on our strengths and capabilities in expanding brand awareness, engaging with customers, delivering a distinctive product and providing an outstanding buying experience,” Mr. Goldman concluded.

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd. (Nasdaq: CTHR) believes luxury can be beautiful and conscientious. As an e-commerce driven business, the Company brings revolutionary gemstones and jewelry to market through the use of innovative technology and direct-to-consumer engagement. Charles & Colvard is the original pioneer of lab-created moissanite, a rare gemstone formed from silicon carbide. Consumers seek Charles & Colvard fashion, bridal and fine jewelry because of its exceptional quality, incredible value and shared beliefs in environmental and social responsibility. Charles & Colvard was founded in 1995 and is based in North Carolina’s Research Triangle. For more information, please visit https://www.charlesandcolvard.com/.

Information originally sourced from GlobeNewswire.