Recently, and hardly five days ago, the prestigious jewelry brand Charles and Colvard, a moissanite manufacturer appointed Mr. Timothy L. Krist as its chief financial officer. This clever appointment follows the company’s declaration during the beginnings of May that it experienced a twenty seven percent decrease in sales for the first three months of 2009. This radical decline of its sales was as a result of noteworthy deceleration in the retail business environment and the reduced buying from manufacturers who sell Moissanite jewelry to key retailers.
The company had experienced about forty seven percent decline in sales during the year 2008 and now has to confront the problem before the Nasdaq Stock Market Inc stop listing its stock if it fails to rise before the coming November. Mr. Timothy L.Krist therefore is expected to be a major instrument of change for Charles and Colvard Company particularly in the area of slumping sales volumes. He is a professional figure with years of experience particularly in financial leadership ranks and began his early career at Deloitte and Touche LLP as a top editor.
He went to the university of Miami in Oxford, Ohio and attained a bachelor degree in science in the field of accountancy and later joined Arizona State University for his masters in business administration. This highly recognizable and educated man has also worked with the KB Home and Blackboard Inc where he held many financial leadership ranks before joining smart online.
The Charles and Colvard Chief Executive Officer Richard Bird stated that Timothy’ s experience in the public company field and also his expertise in accounting, finance and business makes him a perfect addition to the company’s staff. In addition, Richard expressed the company’s eagerness to witness what the new chief financial officer, Timothy will bring via his expertise and abilities in financial controls, budgeting and planning, accounting and investor relations.