Charles & Colvard appointed Neal Goldman as Executive Chairman of the Board

– USA, NC – Charles & Colvard, Ltd. (NASDAQ:CTHR), the sole source of created moissanite and Forever Brilliant®The World’s Most Brilliant Gem®, announced that its Board of Directors has elected Neal Goldman to serve as Executive Chairman of the Board, effective January 1, 2015. The announcement follows the decision by George R. Cattermole to step down as Chairman of the Board while remaining a Board member. The Board unanimously appointed Mr. Goldman to lead the Company into its next phase of growth.

Neal Goldman became a director with Charles & Colvard in May 2014. His financial expertise and knowledge of the direct-to-consumer market span many years. He has served as President of Goldman Capital Management, Inc., an investment advisory firm, since he founded the firm in 1985. Prior to that, Mr. Goldman was an analyst and portfolio manager at Shearson/American Express Inc. Mr. Goldman served on the Board of Directors of Blyth, Inc., a multi-channel company focused on the direct-to-consumer market, and includes in its portfolio two direct sales companies, PartyLite Gifts and ViSalus. He also serves on the Board of Imageware Systems, Inc., a leading company in the emerging market for biometrically enabled software-based identity management solutions.

Mr. Goldman said, “On behalf of the entire Board of Directors, I would like to thank George Cattermole for his tremendous work in the role of Chairman since February 2009. As the new Chairman, I and my fellow Board members will continue to draw on his keen insights as we seek to bring the Company to greater levels of success. I strongly believe Charles & Colvard’s greatest achievements lie ahead, and we will work diligently with management to further establish our brands in the marketplace.”

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 gem that is distinct from other gems 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.’s common stock is listed on the NASDAQ Global Select Market under the symbol “CTHR.”

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