BEIJING, April 19, 2013 /PRNewswire/ -- Deyu Agriculture
Corp. (OTCBB: DEYU) (the "Company"), a Shanxi Province, China-based vertically integrated producer,
processor, marketer and distributor of organic and other
agricultural products made from corn and grains, today announced
that effective April 15, 2013, Mr.
Jianming Hao resigned as Chief
Executive Officer of the Company, Mr. Greg
Chen resigned as President of the Company and was appointed
as new Chief Executive Officer of the Company, and Mr. Jan Poulsen resigned as a Director of the
Company and was appointed as President of the Company.
"We thank Jianming for his contribution to Deyu. He worked hard
to lead the Company through challenging periods. His vision and
leadership have provided Deyu with the foundation for its future
growth," said Executive Director Mr. Hong
Wang on behalf of Deyu's Board. "Jianming will remain on the
Company's Board and serve as Chairman where he will stay closely
involved through the transition to impart his knowledge and
experiences in the industry.
"Greg previously served as our President, and has over fifteen
years of international business strategy, development and
management experience in various industries," added Mr. Wang. "The
Board has complete confidence that Greg is the right person to be
our next CEO. With the upcoming industrial and market opportunities
and challenges, Greg will lead the enhanced management team to
achieve more sustainable competitiveness on multiple strategic and
operational fronts for the Company.
"We are also excited that our management team has an addition of
Jan as President," continued Mr. Wang. "Jan's twenty-plus years
of international management experiences, operational
proficiencies and skills within strategy and business
development in the food and beverage industries, will be very
instrumental to our future growth."
About Deyu Agriculture Corp.
Deyu Agriculture Corp. is a vertically integrated producer,
processor, marketer and distributor of organic and other
agricultural products made from corn and grains operating in
Shanxi Province in the People's Republic of China. The Company
has access to over 109,000 acres of farmland in Shanxi Province for breeding, cultivating,
processing, warehousing and distributing grain and corn products.
We have a nationwide sales network covering manufacturers, grain
traders, wholesalers, distributors, institutional clients and
retail stores in China. Deyu
Agriculture Corp.'s facilities include sophisticated production
lines and modern warehouses with a total production capacity of
over 105,000 tons for grain products, storage capacity of over
100,000 tons and annual turnover of 700,000 tons for corn products.
The Company's website is located at www.deyuagri.com.
Safe Harbor Statements
This press release contains forward-looking statements made
under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements are based
upon the current plans, estimates and projections of Deyu
Agriculture Corp.'s management and are subject to risks and
uncertainties, which could cause actual results to differ from the
forward looking statements. Such statements include, among others,
those concerning market and industry segment growth and demand and
acceptance of new and existing products; any projections of sales,
earnings, revenue, margins or other financial items; any statements
of the plans, strategies and objectives of management for future
operations; any statements regarding future economic conditions or
performance; uncertainties related to conducting business in
China, as well as all assumptions,
expectations, predictions, intentions or beliefs about future
events. Therefore, you should not place undue reliance on these
forward-looking statements. The following factors, among others,
could cause actual results to differ from those set forth in the
forward-looking statements: business conditions in China, general economic conditions;
geopolitical events and regulatory changes, availability of
capital, changes in the agricultural industry, the Company's
ability to maintain its competitive position. Additional
Information regarding risks can be found in the Company's quarterly
and annual reports filed with the U.S. Securities and Exchange
Commission at www.sec.gov.
Company Contact:
Mr. Greg Chen, Chief Executive
Officer
Deyu Agriculture Corp.
Tel: +1-646-499-5475
Email: gregchen@china-deyu.com
Ms. Amy He, Chief Financial
Officer
Deyu Agriculture Corp.
Tel: +86-10-8273-2870 x8522
Email: amy@china-deyu.com
SOURCE Deyu Agriculture Corp.