Isaac Nussen has resigned as president and CEO of MSM Jewelry Corp., the company announced. He will be succeeded by Ratzon Kochavi, a turnaround specialist. Nussen will remain as a director of MSM and will become non-executive chairman of MSM’s board of directors.

Separately, MSM announced that a majority of shareholders have approved changing the company’s name to GEMZ Corp.

I am excited to be joining MSM,” Kochavi said in a statement. “I believe it is an undervalued company. … (I) intend to focus on generating revenue and profits that will bring value to all shareholders”

MSM has very valuable dies, molds, and intellectual property, a new e-commerce capability, and a strong relationship with Beryl’s World and IMCI. It sells Innovative jewelry, including convertible necklaces with hidden magnets, charms for every hobby and every taste, earrings, bracelets, rings and more, all available at www.ucji.com with a risk-free thirty-day money-back guarantee.

Kochavi, 52 is a successful turnaround specialist, businessman and licensed realtor. He has built and turned around six companies, including car washes in New York, Connecticut, and Florida, and a driving school. He is a former captain in an elite Israeli paratroop unit. He has introduced many marketing innovations to these businesses.

MSM is a publicly traded company located in New York City. The company is a manufacturer, designer, and distributor of gold jewelry in the United States. Its principal product line is a wide assortment of 14k gold and silver earrings, charms, bracelets and rings. The company offers over 1,000 styles of gold and silver charms, earrings, bracelets and rings. Some of the gold and silver jewelry is accented with colored gemstones. The company’s customers include mass merchandisers and jewelry wholesalers and distributors. Its consumer Web site is www.ucji.com and its investor Web site is at www.msmj.net.

JCK