XI'AN, China, Dec. 29, 2014 /PRNewswire/ -- SkyPeople Fruit
Juice, Inc. (NASDAQ: SPU) ("SkyPeople" or "the Company"), a
producer of fruit juice concentrates, fruit juice beverages and
other fruit-related products, today announced that its Board of
Directors has approved the appointment of Mr. Yongke Xue, currently Chairman of the Board of
the Company to also serve as Chief Executive Officer, effective
December 24, 2014. Mr. Yongke Xue replaces Mr. Hongke Xue, who has
resigned from his position as the Company's Chief Executive
Officer, also effective December 24,
2014. Mr. Hongke Xue's decision to resign was not a result
of any disagreement with the Company or its management on any
matter relating to the Company's operations, policies or
practices.
Mr. Yongke Xue served as the
Company's Chief Executive Officer from 2008 to 2013 and has
extensive knowledge of the Company that is vital to the execution
of its strategic plan. Mr. Yongke
Xue is the brother of Mr. Hongke Xue. SkyPeople is grateful
to Mr. Hongke Xue for his work and his substantial contribution to
the Company which was instrumental in its having continued its
record of strong growth. The Company will continue to benefit from
Mr. Hongke Xue's experience as he will continue to serve as a
member of its Board of Directors.
The Company also announced that two members of its Board of
Directors have tendered their resignations and that it has made a
new appointment to the Board.
Mr. Norman Ko announced his
resignation effective the end of business on December 23, 2014. Mr. Ko cited personal demands
as the cause of his resignation. Mr. Ko had been a director of the
Company since 2008. Mr. John Smagula
announced his resignation from the Board effective the end of
business December 23, 2014. Mr.
Smagula cited the demands of other responsibilities as the cause of
his resignation. Mr. Smagula has been a director of the Company
since 2010. The Company believes that the resignations of Messrs.
Ko and Smagula are not the result of any disagreement with the
Company on any matter related to the Company's operations, policies
or practices.
Mr. Yongke Xue, Chief Executive
Officer of SkyPeople, commented, "I would like to thank Norman and
John for their active engagement in their roles as directors of the
Company. We highly value their contributions and believe that
SkyPeople is stronger for their efforts."
Also, on December 23, 2014, the
Board appointed Mr. Johnson Lau as
an independent member of the Board of Directors of the Company and
also as the Chairman of Audit Committee. Mr. Lau is the Chief
Financial Officer of SGOCO Group, Ltd. (NASDAQ: SGOC). Mr. Lau is a
Certified Public Accountant of the Hong Kong Institute of Certified
Public Accountants and CPA Australia. Mr. Lau has over 17 years of
experience in the accounting profession. Mr. Lau started his career
with Deloitte Consulting in Hong
Kong and Beijing from 1997
to 2004. Prior to joining SGOCO Group, Ltd. in July 2013, for nine years Mr. Lau worked for
various public companies in the United
States and England as
Director of Finance and Chief Financial Officer. Mr. Lau holds a
Bachelor's degree in Commerce from Monash University, Australia.
SkyPeople CEO Yongke Xue
concluded, "I am very pleased with the addition of Johnson to our
Board of Directors. I feel confident that his experience with the
US capital markets and his insight into both financial and
operating issues will be of great value to the company. I believe
that Johnson will be a great advisor and will significantly
contribute to SkyPeople's continued success."
About SkyPeople Fruit Juice, Inc.
SkyPeople Fruit Juice, Inc., a Florida company, through its wholly-owned
subsidiary Pacific Industry Holding Group Co., Ltd. ("Pacific"), a
Vanuatu company, and SkyPeople
Juice International Holding (HK) Ltd., a company organized under
the laws of Hong Kong Special Administrative Region of the People's Republic of China and a wholly
owned subsidiary of Pacific, holds 99.78% ownership interest in
SkyPeople Juice Group Co., Ltd. ("SkyPeople (China)"). SkyPeople (China), together with its operating
subsidiaries in China, is engaged
in the production and sales of fruit juice concentrates, fruit
beverages, and other fruit related products in the PRC and overseas
markets. Its fruit juice concentrates are sold to domestic
customers and exported directly or via distributors. Fruit juice
concentrates are used as a basic ingredient component in the food
industry. Its brands, "Hedetang" and "SkyPeople," which are
registered trademarks in the PRC, are positioned as high quality,
healthy and nutritious end-use juice beverages. For more
information, please visit http://www.skypeoplefruitjuice.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements"
that involve a number of risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and the
actual results and future events could differ materially from
management's current expectations. Such factors include, but are
not limited to, the Company's ability to obtain the necessary
financing to continue and expand operations, to market its products
in new markets and to offer products at competitive pricing, to
attract and retain management, and to integrate and maintain
technical information and management information systems, political
and economic factors in the People's
Republic of China, compliance requirement of laws and
regulations of the PRC, the effects of currency policies and
fluctuations, general economic conditions and other factors
detailed from time to time in the Company's filings with the United
States Securities and Exchange Commission and other regulatory
authorities. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
For more information, please contact:
COMPANY
Xin
Ma, Chief Financial Officer
SkyPeople Fruit
Juice, Inc.
Tel: China + 1 86-29-8837-7161
Email: oliver.x.ma@skypeoplefruitjuice.com
Web: http://www.skypeoplefruitjuice.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/skypeople-fruit-juice-announces-changes-in-management-and-its-board-of-directors-300014125.html
SOURCE SkyPeople Fruit Juice, Inc.