CVSL Names Vice President Of Finance And Controller

Feb 06, 2014, 13:16 ET from CVSL Inc.

DALLAS, Feb. 6, 2014 /PRNewswire/ -- CVSL Inc. [OTCQB: CVSL] announced today that Richard Holt has been named vice president of finance and controller.

Mr. Holt has for the past two and a half years served as chief financial officer at Agel Enterprises, which became part of CVSL last September.  He previously spent five years as corporate controller for Raser Technologies, Inc. in Provo, Utah.  During a previous stint at Agel, he was instrumental in the early stages of that company's development.  

His 13-year experience working at the corporate headquarters of such industry giants as Amway and NuSkin has given him a comprehensive understanding of the financial operations within the micro-enterprise sector.  He is a certified public accountant, which he earned while working at Price Waterhouse in Los Angeles. He graduated from the University of Utah with a Masters in Business Administration and a Bachelors degree in accounting.

"Bringing Richard into this key role in CVSL's finance team is another important step as we continue ramping up to grow by acquisition and as we effectively manage the companies within CVSL," said John Rochon Jr., CVSL's vice chairman.  "Richard has a strong background in the micro-finance sector and he will be an important part of our finance team's leadership.

"As we continue growing and as additional companies become part of CVSL, we will continue to make sure that we have all the necessary financial controls in place to support our expansion," Mr. Rochon added. 

In his new role, Mr. Holt will report to CVSL's chief financial officer, Kelly Kittrell.

About CVSL

CVSL is a growing group of micro-enterprise companies that connect social media networks into an ever-expanding virtual "community" of social commerce. CVSL companies currently include The Longaberger Company, a 40-year old maker of hand-crafted baskets and other home decor items; Your Inspiration At Home, an award-winning maker of hand-crafted spices and other gourmet food items from around the world; Tomboy Tools, a direct seller of tools designed for women as well as home security systems; and Agel Enterprises, a global seller of nutritional products in gel form as well as a skin care line sold under the Ageless™ brand, operating in 40 countries; Paperly, which offers a line of custom stationery and other personalized products;  My Secret Kitchen, a U.K.-based seller of gourmet food products; and  Golden Girls, which purchases gold and tradable jewelry.

Cautionary Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements that involve risks and uncertainties. All statements other than statements of historical fact contained in this press release are forward-looking statements. We have attempted to identify forward-looking statements by terminology including "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" or the negative of these terms or other comparable terminology. Such statements include statements regarding our anticipated revenues, and our growth.  Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements are only expectations and involve known and unknown risks, uncertainties, and other factors; our growth may not continue as anticipated and our revenue may not be as expected and  the risks outlined under "Risk Factors" in our Annual Report on Form 10-K for our fiscal year ended December 31, 2012, our Forms 10-Q, including the one issued  for the period ending September 30, 2013 and those discussed in other documents we file with the Securities and Exchange Commission, which may cause our actual results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements to differ materially from expectations.  Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations.

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