Market Overview

Charles & Colvard Appoints Steven Larkin as Chief Operating Officer

Charles & Colvard (NASDAQ: CTHR), the sole manufacturer of created moissanite gemstones, The Most Brilliant Jewel in the World®, announced today the appointment of Steven M. Larkin as its Chief Operating Officer effective May 6, 2013. Mr. Larkin has served on our Board of Directors since February 2011 and has resigned that position effective May 6, 2013. Mr. Larkin's responsibilities in his new role will include the development of long-term operating strategies designed to enhance shareholder value by growing top-line revenue and improving net profit and cash flow.

Mr. Larkin's career spans over 30 years of diverse, progressive merchandising and marketing responsibilities in the retail, e-commerce, and fine jewelry industries. Since 2010, Mr. Larkin was most recently Senior Vice President, Direct, of Golfsmith International Holdings, Inc., a specialty retailer of golf and tennis equipment, apparel and accessories.

Previously, Mr. Larkin served as Executive Vice President, Chief Marketing and E-commerce Officer at Zale Corporation. Prior to Zale Corporation, Mr. Larkin served in a variety of marketing, merchandising, and e-commerce-related executive positions with various companies in the retail industry, including ShopNBC, The Fingerhut Corporation, and Federated Department Stores/Macy's, Inc. Mr. Larkin is a graduate of The School of Management at Boston University.

Randy McCullough, Chief Executive Officer of Charles & Colvard, Ltd., commented, "We are extremely pleased to add Steve to our executive management team, and we believe his jewelry merchandising and marketing backgrounds will be a contributing factor to Charles & Colvard's future success. During his service on our Board of Directors, he has demonstrated the ability and the right cross-section of talent to help expand awareness and educate consumers of the great properties and value of our incredible gemstone via traditional and non-traditional channels.”

“I'm impressed with consumer acceptance and satisfaction with our products, and I'm confident via increased awareness and education campaigns that we can significantly grow market share in the large worldwide gemstone sector,” stated Mr. Larkin. “Opportunities exist in traditional and progressive digital channels. Social, mobile, and international media may all be utilized in expanding awareness and growing the business. As a prior Board member, I have been impressed and excited about the future that Randy and the team created thus far. I look forward to contributing in further growing the business and shareholder value,” concluded Larkin.

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd., based in the Research Triangle Park area of North Carolina, is the global sole source of moissanite, a unique, near-colorless created gemstone that is distinct from other gemstones and jewels based on its exceptional fire, brilliance, luster, durability, and rarity. Charles & Colvard Created Moissanite® and Forever Brilliant® are currently incorporated into fine jewelry sold through domestic and international retailers and other sales channels. Charles & Colvard, Ltd. is headquartered in Morrisville, North Carolina, and its common stock is listed on the NASDAQ Global Select Market under the symbol “CTHR.” For more information, please visit www.charlesandcolvard.com.

Posted-In: News Management

 

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