SHISHI, China, Nov. 7, 2017 /PRNewswire/ -- KBS Fashion Group
Limited (NASDAQ: KBSF) ("KBS" or the "Company"), a
vertically-integrated casual menswear company in China, today announced changes to its senior
management and Board of Directors (the "Board").
On November 1, 2017, Mr.
Keyan Yan resigned from his
positions as Chief Executive Officer ("CEO") and President of the
Company. Mr. Yan will continue to serve as Chairman of the Board.
The Board has appointed Mr. Xiaowen
Zheng ("Mr. Zheng") as its new CEO and President, effective
immediately. The Board also voted to
appoint Xiaowen Zheng as director of
the company and the size of board increased to eight.
Additionally, Ms. Lixia Tu, who
currently serves as Chief Financial Officer of the Company, was
appointed as Secretary of the Company, effective immediately.
Mr. Zheng has extensive experience in China's advertising and media industries.
Prior to this appointment, as the founder, Mr. Zheng has served as
Chairman and CEO of Shancangzi (Xiamen) Culture Communications Co. Ltd.
("SCZ"), a China-based advertising
and branding agency, since its inception in 2007. Mr. Zheng
currently also serves as a board director of Advertising
Association of Fujian Province and
Advertising Association of Xiamen
City, a member of China Public Relations Association. Mr. Zheng attended Executive Development Program
in Economics at Xiamen University
and holds a Bachelor Degree in Information Management and Systems
from Yang-En University.
Mr. Yan, Chairman of KBS, welcomed Mr. Zheng to his new
positions, "Xiaowen is an expert in advertising and branding and
has successfully led his SCZ team in promoting leading brands, such
as Coca-Cola, Mercedes-Benz, Uni-President, Wanda Plaza, in the Fujian market where we have the strongest
presence. The Board is thrilled that Xiaowen has agreed to take up
the torch and lead KBS' next chapter."
Mr. Zheng, the new CEO of KBS, added, "KBS is a truly
differentiated brand in the garment industry and has a solid
foundation to excel in the long run. I feel privileged to join KBS
and look forward to working closely with the Board and other senior
management members to take the Company to the next level."
About KBS Fashion Group Limited
Headquartered in Shishi, China,
KBS Fashion Group Limited, through its subsidiaries, is engaged in
the business of designing, manufacturing, selling and distributing
its own casual menswear brand, KBS, through a network of 50 KBS
branded stores (as of June 30, 2017)
and over a number of multi-brand stores. To learn more about the
Company, please visit its corporate website at
www.kbsfashion.com.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of KBS Fashion Group Limited,
and its subsidiary companies. All statements, other than statements
of historical fact included herein, are "forward-looking
statements" in nature within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements,
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 these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Investors 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.
For further information, please contact:
Lisa Tu
Chief Financial Officer
T: +86 158-5972-2469
E: lingsantu@hotmail.com
Tony Tian, CFA
Weitian Group LLC
T: +1 732-910-9692
E: tony.tian@weitian-ir.com
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SOURCE KBS International Holdings Inc.