Diamond in the rough.

• Position: TRIANGLE REGION

Gemstone maker Charles & Colvard is turning to a new leader as it tries to rebound after reporting net losses of $14.4 million over the last two years. Marvin Beasley, 71, a former CEO at Kansas City, Mo.-based Helzberg Diamonds, took over in March for Randy McCullough, who retired after five years leading the Morrisville-based company. Beasley comes with strong credentials--Warren Buffett's Berkshire Hathaway bought Helzberg in 1995, and the chain now has more than 230 stores. In trying to reverse a sharp slide in the company's share price over the last two years, Beasley must convince traditional retailers to offer its engineered moissanite gems. It's a tough sell, because most jewelers understandably prefer selling a $5,000 diamond versus a $500 moissanite product that looks similar. Beasley, who has served on Charles & Colvard's board since 2009 and worked in retail for 44 years, is confident. "I am a merchant. I've been buying and selling things my whole life," he says. "I think the product is so outstanding. It's absolutely beautiful." Charles & Colvard...