Moissanite Company Appoints Lein to Board; Settles Lawsuit

Charles & Colvard, the sole manufacturer of moissanite, announced the appointment of Dr. Charles D. Lein to the company’s board of directors. 


Dr. Lein, retired President and Chief Operating Officer of Stuller, has more than 27 years of experience in the jewelry, wholesale and retail industries. Dr. Lein’s appointment increases the size of the company’s board of directors to five. 


Prior to Stuller, Inc., Dr. Lein spent 12 years in the jewelry industry as Chairman, President and CEO of Black Hills Jewelry Manufacturing Co. in Rapid City, South Dakota. Prior to the jewelry industry, Dr. Lein held various positions in education, including Dean of the College of Business at Boise State University and became the youngest state university president in the United States, when he was appointed President of The University of South Dakota in 1977.


The company also announced last week that Timothy L. Krist has become its new chief financial officer. Krist previously was CFO at technology firm Smart Online.


The company also has announced it has settled its lawsuit filed on June 16, 2008 against its former customer Jewelnet Corporation d/b/a K&G Creations “in order to avoid further litigation expenses and to dispose of the case.”  The company said the terms were “acceptable [and] are not material to the Company’s financial position.”