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| 8-K - QKL Stores Inc. | v170672_8k.htm |
QKL
Stores Inc. Announces the Appointment of New Board Member
Daqing,
China, January 6, 2010 – QKL Stores Inc. (the “Company”) (Nasdaq: QKLS), a
leading regional supermarket chain in Northeast China, today announced the
appointment of Alan D. Stewart, the Company’s Chief Operating Officer, to its
Board of Directors, effective immediately. Mr. Stewart is replacing
Mrs. Limin Zheng, who has resigned for personal reasons.
Mr. Alan
D. Stewart was appointed as the Company’s Chief Operating Officer in August
2008. Mr. Stewart’s prior international experience includes two years as General
Manager-Hypermarket Division at NTUC Fairprice, Singapore, five years at PT
Matahari Putra Prima Tbk, a multi-format retailer in Indonesia in various
positions including CEO-Supermarket Division, and three years with Al
Azizia-Panda United, Inc., Kingdom of Saudi Arabia, as General Manager of the
Company. Mr Stewart’s domestic experience in the United States includes 32 years
with American Stores and its subsidiaries, Salt Lake City, Utah, where he held
various titles including President and Chief Operating Officer of the parent
company. Mr. Stewart attended Mt. San Antonio College in 1963, the Advanced
Management Program at Harvard Business School in 1986 and the Restaurant
Executive Program of Cornell University in 1998.
“We are
very pleased to announce Mr. Stewart’s appointment to the Board of
Directors,” commented Mr. Zhuangyi Wang,
Chairman of the Company. “He has been an
integral member of the QKLS management team and we are confident that his
experience will bring additional strength and extra dimension to our
board. Mr. Stewart’s leadership and strong commitment to QKLS are of
significant value as we continue to position the Company for future
growth.”
About
QKL Stores Inc.:
Based in
Daqing, China, QKL Stores Inc. is a leading regional supermarket chain company
operating in Northeast China. The Company sells a broad selection of
merchandise, including groceries, fresh food, and non-food items, through its
retail supermarkets, hypermarkets, and department stores; the company also has
its own distribution centers that service its supermarkets.
Safe
Harbor Statement
This
press release includes statements that may constitute forward-looking statements
made pursuant to the safe harbor provision of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. For example, statements
about the future use of the proceeds are forward looking and subject to risks.
QKL Stores Inc. may also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission on forms 10-K,
10-Q and 8-K, in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical facts, including
statements about the Company's beliefs and expectations, are forward-looking
statements. Forward- looking statements involve inherent risks and uncertainties
that could cause actual results to differ materially from the forward-looking
statements. A number of important factors could cause actual results to differ
materially from those contained in any forward-looking statement. Potential
risks and uncertainties include, but are not limited to, risks outlined in the
Company's filings with the U.S. Securities and Exchange Commission, including
its registration statement on Form S-1, as amended. The Company does not
undertake any obligation to update any forward-looking statement, except as
required under applicable law.
This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of, these securities in any state or
other jurisdiction in which such offer, solicitation or sale would be
unlawful.
Contact
Information
Company
Contact:
QKL
Stores Inc.
Crystal
Chen
Tel:
+86-459-460-7626
Investor
Relations:
ICR, Inc.
Wei Jung Yang
Tel: +86-10-6599-7968
Bill Zima
Tel: 1-203-682-8200