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May 30, 2014 /PRNewswire/ - Scio Diamond Technology Corporation (OTCQB: SCIO) (hereinafter "Scio" or the "Company") a manufacturer of lab-grown diamond for the gemstone and industrial marketplace, today, announced the appointment of two new independent members of the Company's Board of Directors. Additionally,
Edward Adams, the Chairman of Scio's Board of Directors, announced the completions of Committee Charters for Scio's Board of Director's Audit, Compensation, Nominating and Corporate Governance Committees. All Committee Charters are drafted to conform to the Change in Company's By-laws announced on
April 14, 2014. The following are Scio's new Board members:
Mr. Gerald McGuire
Mr. McGuire brings over twenty-five (25) years of semiconductor industry experience to Scio. The semi-conductor industry is expected to be a strong growth area for Scio in the years ahead. Mr. McGuire was most recently, a Senior Vice President and General Manager of the Low-Voltage and Mid Power Analog Business at Fairchild Semiconductor. Prior to Fairchild Semiconductor, Mr. McGuire was the VP/GM of the Digital Signal Processing business at Analog Devices. He spent twenty-three (23) years at Analog Devices in various technical, marketing and business roles. His specialties include: product marketing and branding, product development and strategy. Mr. McGuire has spent his career determining what global customers want and how to deliver it.
Mr. James Korn
James A. Korn currently serves as the Chief Executive Officer of Temp-Air, Inc., a leading manufacturer of temporary industrial and commercial HVAC equipment. Prior to Temp-Air, Mr. Korn was the Chief Legal Officer of
Deephaven Capital Management, a
$4 billion dollar multi-strategy hedge fund in
Minneapolis, Minnesota. As an attorney in private practice at Fredrikson & Byron, a 260-attorney law firm based in
Minneapolis, Mr. Korn developed extensive experience in both mergers and acquisitions and in corporate finance. Mr. Korn received his B.A. in economics, magna cum laude, from
Providence College and his J.D., cum laude, from the
University of Minnesota Law School.
Edward Adams, Scio's Chairman commented, "We welcome these two outstanding new board members at this exciting time for our Company. Scio is in the early stages of a transformational process as a company and I am pleased that Mr. McGuire and Mr. Korn will be joining us in these efforts. I look forward to their contributions and to the continued growth and success of this company."
Scio employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting. These are known as "lab-grown" diamonds. Lab-grown diamonds have chemical, physical and optical properties identical to "earth-mined" diamonds. The Company's manufacturing process produces high-quality, high-purity, single-crystal colorless, near colorless and fancy colored diamonds.