NEW YORK, Oct. 9, 2017 /PRNewswire/ -- Seven Stars Cloud
Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company" or "Seven Stars
Cloud") announced today several management and Board of Director
changes that will be effective immediately:
Mr. Robert G. Benya will join the
Company as President & Chief Revenue Officer ("CRO") as well as
a member of the Board of Directors. Mr. Benya is a highly
distinguished media executive with over 35 years of experience who
has pioneered numerous businesses and product innovations in the
U.S. and Scandinavian cable television industries. In the
1980's, he was the Chief Revenue Officer for Time Warner Cable
(TWC) and helped lead the transformation of the fledgling cable TV
business into a multi-billion dollar enterprise. In the
1990's, Mr. Benya led numerous innovations at TWC and helped create
new, multi-billion dollar businesses including: Road Runner High
Speed Internet, Broadband Portals, Online Video Stores, Advertising
Sales Interconnect Joint Ventures, Pay Per View, Video on Demand,
Interactive TV and Cloud DVR services. From 2009-2017, he was
the President & CEO of IN DEMAND, the global leader in Pay Per
View and Video on Demand sports and entertainment services, with
over $1 billion in annual revenues
driven by the acquisition and distribution of over 350,000 hours of
professional sports (MLB, NBA, NHL and MLS), ring sports (UFC, HBO
and Showtime Boxing and WWE Wrestling) and a 12,000 title catalogue
of new release and library HD Movies, for on demand viewing,
sourced from over 80 major and independent studios.
Mr. Benya has received numerous industry awards including the
Cable TV Vanguard Award, multiple ACE and CTAM Awards, six
Marketing Executive of the Year Awards, the Paragon Communication
President's Award and a Time Warner Cable Innovation Award.
He also holds six patents and has won a Technical Emmy Award.
"The President & CRO positions are a necessity based on our
recent global expansion and Robert will be an essential part of our
executive team as we continue to develop our B2B fintech-powered,
supply chain solution," said Bruno
Wu. "His proven ability to manage and grow multiple revenue
streams and provide high-level strategic insights will help us to
capture our vast addressable market."
"It's clear that SSC's approach to Artificial Intelligence and
Blockchain technology coupled with its strong partnerships, is
providing industrial enterprises with a completely new and
cost-saving way of trading and doing business," said Mr. Benya.
"I'm honored to be selected as SSC's first CRO and look forward to
joining this talented team and working with our innovative partners
and customers."
In addition, Bruno Wu will
continue in his role as Chairman and become the Company's next
Chief Executive Officer ("CEO"), succeeding Bing Yang, who
currently serves as President & CEO. Mr. Yang will resign
from both the CEO and Director positions immediately, but will
remain with the Company in an advisory role until the end of 2017
in order to complete a smooth transition. Mr. Yang will then
return to Bruno Wu's Sun Seven Stars
Media Group in 2018. Mr. Wu stated, "Bing stepped into his
CEO role at SSC 18 months ago and was key in drastically
repositioning SSC for revenue growth for the very first time in its
history. He has been a valuable change agent, most notably as
we completed our pivot to become an Intelligent Industrial Internet
company. He has always been an important partner to me and we
are grateful for his service to the Company. Thanks to his
leadership, deal making and decisiveness, SSC is now in a position
to capitalize on multiple opportunities with SSC's unique
platform. Moving ahead, I look forward to personally leading
SSC's ongoing efforts to drive growth, improve performance and
enhance shareholder value."
Finally, Director Sean Wang has
resigned from SSC's Board of Directors, but will remain in an
advisory role with the company until the end of 2017. At that
point, Mr. Wang will return to Sun Seven Stars Media Group's
investment division.
About Seven Stars Cloud Group, Inc.
(http://corporate.sevenstarscloud.com/)
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) is aiming to be a
leading Intelligent Industrial Internet (3I) platform, creating a
fintech-powered, supply chain solution simplified for commercial
enterprises. There are 2 Engines that drive our business
platform: 1. VPaaS + TPaaS - Supply Chain Management for key
industry sectors and leaders including but not limited to Big
Commodities, Cross-Border Trade, Consumer Electronics & Energy;
2. Digital Finance Solutions - Supply Chain Finance
underwritten by our Global Cornerstone Funds and ABS, Tokenization
and Exchange Platforms, which include FINRA and SEC-regulated:
Index Exchanges, Initial Coin Offering / Tokenization, ETFs and
Derivatives. Both Engines and their various arms will run on
'BASE' technology and infrastructure (Blockchain, Artificial
Intelligence, Supply Chain & Exchanges) to power a closed trade
ecosystem for buyers and sellers designed to eliminate
transactional middlemen and create a more direct and
margin-expanding path for principals.
Safe Harbor Statement
This press release contains certain statements that may
include "forward looking statements." All statements other than
statements of historical fact included herein are "forward-looking
statements." These forward looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
CONTACT:
Jason Finkelstein
Seven Stars Cloud Group, Inc.
212-206-1216
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SOURCE Seven Stars Cloud Group, Inc.