JINZHONG, China, June 23 /PRNewswire-Asia/ -- Deyu Agriculture Corp. (OTC Bulletin Board: ECBI) ("Deyu Agriculture" or the "Company"), an emerging producer, processor, marketer and distributor of agricultural products based in Shanxi Province, today announced that effective June 18, 2010, the Company has hired Mr. David Lethem as Chief Financial Officer. Additionally, the Company appointed Mr. Weijun Tian as its President and Executive Director and Mr. Jianbin Zhou as its Chief Operating Officer. The Company also appointed Mr. Junde Zhang as Vice President of its Grains Division, Mr. Yongqing Ren as Vice President of its Corn Division, and Mr. Li Ren as Vice President of its Brand Operations.
Mr. David Lethem is an internal audit and Sarbanes-Oxley compliance expert with over 25 years of auditing, accounting, finance, and operations management experience. Since November 2007, Mr. Lethem served as President at Audit Management Solutions, Inc. Before that, he served as Director of Internal Audit at NeoMedia Technologies, Inc. of Atlanta, Georgia. Previously, Mr. Lethem was Internal Audit Manager at Source Interlink Company, where he implemented internal audit and Sarbanes-Oxley compliance. Mr. Lethem graduated from the University of Dubuque with a B.A. degree in 1981 and the California Coast University with an MBA degree in 2007. He is also a certified internal auditor.
"We are pleased to build a professional and dedicated management team with the addition of these professionals. We believe their solid backgrounds and valuable experience will greatly benefit the Company and its shareholders," said Mr. Jianming Hao, Chairman and Chief Executive Officer of Deyu Agriculture. "We look forward to working with our strong new management team to guide the future growth of our Company, especially at a time when we are looking to expand our grain business."
Mr. Wenjun Tian has over 10 years of experience in corporate management with a strong focus on investment in agricultural businesses. Prior to joining the Company, he served as Chairman of Dongsheng International Investment Inc. Before that, Mr. Tian was Chairman of Shanxi Dongsheng Auction Co., Ltd. He has also served as a director of Detian Yu Biotechnology (Beijing) Co., Ltd. ("Detian Yu"), one of the Company's subsidiaries, since December 2009. Mr. Tian is the holder of an undergraduate degree.
Mr. Zhou is a seasoned executive with over 20 years of experience in business operations. Before joining Deyu Agriculture, Mr. Zhou was Vice President of Dongsheng International (Beijing) Investment Co., Ltd. Before that, he was the General Manager of Antai Global (Beijing) Risk Management Co., Ltd. and General Manager of Beijing Kangqiaoshidai Education Development Co., Ltd. Zhou is the holder of an undergraduate degree.
Mr. Junde Zhang has over 10 years of experience in grain breeding, cultivation, processing, marketing and management. Since April 2004, Mr. Zhang has been Production Director and General Manager of the Company's Cereal Crops Division. As a successful entrepreneur, he was appointed a member of the Yuci People's Congress and awarded the honorable title of Industrial Restructuring Leader by the Yuci Municipal Government. Zhang is the holder of an undergraduate degree.
Mr. Yongqing Ren has substantial experience in corn cultivation, breeding, processing, marketing and management. Mr. Ren has been Vice President and General Manager of the Company's Corn Division since April 2004. He was conferred the honorable title of Industrial Restructuring Leader for two consecutive years and the prize of Top-Ten Youth Career Development Contributor by the Yuci Municipal Government. Ren is the holder of an undergraduate degree.
Mr. Li Ren joins Deyu Agriculture as Vice President in charge of brand operations. Mr. Ren is a renowned branding expert in China's consumer goods industry and one of the few experts in developing local Chinese brands. He is an expert in brand core concept refining, brand structure systemization, brand strategic planning and brand integration and marketing communication. Most recently, Mr. Ren was an independent branding consultant, and before that, he served as Vice President at Hebei Zhongwang Group and he successfully established Beijing Wu Gu Dao Chang Company. In his early years, Mr. Ren served as Director of Marketing, Administration and Human Resources with Hebei Hualong Group. Mr. Ren is the holder of an undergraduate degree.
About Deyu Agriculture Corp.
Deyu Agriculture Corp. ("Deyu Agriculture" or the "Company") is an emerging organic and non-organic agricultural products producer and distributor in Shanxi Province of the People's Republic of China engaged in procuring, processing, marketing and distributing various grain and corn products. Deyu Agriculture maintains a large base in Jinzhong City, Shanxi Province for breeding, cultivating, processing and warehousing, and focuses on processing and distributing grain and corn products.
For more information, contact CCG Investor Relations directly or go to Deyu Agriculture's website at http://www.china-deyu.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'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 as well as other relevant risks, including but not limited to risks outlined in the Company's periodic filings with the U.S. Securities and Exchange Commission. Deyu Agriculture does not assume any obligation to update the information contained in this press release.
For more information, please contact:
Company Contact:
David Lethem, Chief Financial Officer
Tel: +1-239-940-8889
Email: dslethem@gmail.com
Web Site: http://www.china-deyu.com/
Investor Relations Contact:
John Harmon, Senior Account Manager
CCG Investor Relations
Tel: +1-646-833-3424
Email: john.harmon@ccgir.com
Web Site: http://www.ccgir.com