Scio Diamond Technology Corporation, a renowned laboratory-grown diamond producer, has decided to dismiss its current Chief Executive Officer Michael McMahon, and has appointed Gerald McGuire as the company's interim Chief Executive Officer, reports say. McGuire is currently a consultant and member of the Board of Directors at Scio.

The company believes that the appointment will help in furthering the operation objectives, and enhance growth.

Another dismissal announced was that of Chief Financial Officer Jonathan Pfohl, in whose place the company has appointed Douglas Walker, also a consultant to act as Interim Chief Financial Officer, reports add.