Attached files
| file | filename |
|---|---|
| 8-K - NIVS IntelliMedia Technology Group, Inc. | v198265_8k.htm |
| EX-10.1 - NIVS IntelliMedia Technology Group, Inc. | v198265_ex10-1.htm |
NIVS
Appoints New Independent Director and New CFO
HUIZHOU,
China, October 1, 2010—NIVS IntelliMedia Technology Group, Inc. (“NIVS” or the
“Company”) (NYSE Amex: NIV), a consumer electronics company that designs,
manufactures and sells intelligent audio and visual products and mobile phones,
today announced that Robert Wasielewski has joined the Company’s Board of
Directors and that Alexander Chen has been appointed as new CFO.
Mr.
Wasielewski comes to NIVS with an extensive background in the U.S. capital
markets through his past service at Citigroup, PriceWaterhouseCooper and GKH
Partners. Mr. Wasielewski has also assisted companies in going
public, has built portfolio companies on behalf of private equity sponsors and
has provided acquisition and restructuring assistance to numerous
companies. Mr. Wasielewski currently serves as the interim Chief
Executive/Chief Financial Officer of ForteONE CEO Services, a business
development consultancy based in Chicago, IL. Mr. Wasielewski holds a
Bachelor of Science Degree in Accountancy with Honors from the University of
Illinois at Urbana-Champaign College of Commerce and Business
Administration.
The
Company's Board of Directors also appointed Alexander Chen as the new Chief
Financial Officer, to fill the vacancy left by Simon Zhang, who resigned as
Chief Financial Officer for personal reasons. Prior to joining the Company, Mr.
Chen served as the Business Development Manager of WCT Pty Limited, a remittance
services and money transfer company, as Chief Financial Officer of Service
Central, an online business directory service company, and as the Chief
Financial Officer of TMS, a company accredited with a special license to market,
sell and manage government-run lotteries, where Mr. Chen oversaw the company’s
return to profitability and record sales after many years of heavy
losses. Mr. Chen received a Bachelor’s Degree in Accounting from the
University of Victoria in 1998.
Mr.
Tianfu Li, NIVS Chairman and CEO commented, “We are pleased to welcome Mr.
Wasielewski to the NIVS board. We believe that his extensive capital
markets background will add valuable experience and insight to the
Company. We are also pleased to have Mr. Chen join our management
team. We believe that his experience in management and business
development will be an asset to the Company.”
About
NIVS IntelliMedia Technology Group, Inc.
NIVS
IntelliMedia Technology Group is an integrated consumer electronics company that
designs, manufactures, markets and sells intelligent audio and video products
and mobile phones in China, Greater Asia, Europe, and North America. The NIVS
brand has received “Most Popular Brand” distinction in China's acoustic industry
for three consecutive years, among numerous other awards. NIVS has developed
leading Chinese speech interactive technology, which forms a foundation for the
Company's intelligent audio and visual systems, including digital audio, LCD
televisions, digital video broadcasting (“DVB”) set-top boxes, peripherals and
more.
Safe
Harbor Statement
This
release contains certain “forward-looking statements” relating to the business
of the Company and its subsidiary companies. All statements, other than
statements of historical fact included herein are “forward-looking statements”
including statements regarding: the significance of Mr. Wasielewski’s and Mr.
Chen's appointment on the Company’s business and operations; the business
strategy, plans and objectives of the Company and its subsidiaries; and any
other statements of non-historical information. 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 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
more information, please contact:
Company
Contact:
Jason
Wong
Vice
President Investor Relations
Tel:
+86-138-299-16919
Email:
jason@nivsgroup.com
Investor
Contact:
BPC
Financial Marketing
United
States & Canada
John
Baldissera
Tel:
+1-800-368-1217