Yosen Group Welcomes a New Independent Director to Further Build a Competitive Cross-Border O2O Platform
YIWU, China, Sept. 23, 2015 /PRNewswire/ -- Yosen Group, Inc. (stock symbol: YOSN) ("Yosen", or "the Company") today announced that Mr. Freddy Er has joined the Company as an Independent Director and Chairman of the Compensation Committee of the Board of Directors. This is another recent strategic move that demonstrates Yosen's determination to further build a competitive cross-border import & export O2O platform.
Mr. Er came from Transocean Oil Private Limited ("Transocean Oil") which is an independent licensed bunker supplier and trader accredited by the Maritime Port Authority of Singapore (MPA) to provide bunkering services to international ships calling at Singapore and other ports in the region. Mr. Er, as a Director, focused on both local and regional strategic investment opportunities, drove business diversification and regional business expansion. Transocean Oil was ranked No. 3 in the total volume of bunker sold for 2014.
Before Transocean Oil, Mr. Er dedicated 13 years in the banking and insurance business, involved in private banking, high net worth business development, as well as bancassurance channel business and other insurance services like group and life insurance. He built very extensive experience with not only sales, administration and operations, but also green field project development and risk management.
Mr. Er served as a Director of Bank of Singapore ("BOS"), a wholly-owned private banking subsidiary of OCBC Bank (Oversea-Chinese Banking Corporation Ltd). There Mr. Er was responsible for the collaboration on assets under management between BOS and Great Eastern Life Assurance Co Ltd ("GEL"), another subsidiary of OCBC Bank and the second largest financial services group in Southeast Asia by assets, achieved long-term sustainable growth in the private banking business by increasing client acquisition and product penetration, and enhanced client relationship through active advisory, asset allocation and portfolio management.
Before joining BOS, Mr. Er served in GEL for more than 10 years, starting as Chief Representative in GEL's Shanghai office, setting up the first foreign joint venture life insurance company in Chongqing, and later became GEL China's Chief Operating Officer.
Mr. Freddy Er's joining Yosen's Board of Directors came shortly after the Company's announcement of an ex-Alibaba senior manager Mr. Liang Yao came on board as the Chief Operating Officer, indicating Yosen's another significant maneuver to continuously transform and rebrand itself to a comprehensive cross border import & export O2O platform. The Company is confident that Mr. Er's solid experience with one of the world's leading transportation players will benefit Yosen's international trade business by strengthening its logistics leg, while Mr Er's extensive banking experiences will likely add another competitive edge for Yosen via enhancing the potential in its supply chain financing.
"Mr. Er is a perfect fit for us at the right time", commented Yosen's CEO Mr. Zhenggang Wang, "While Yosen has gradually executed our new positioning to build both off-line and on-line cross border trade channels, we believe Mr. Er will lend us his strategic leadership and the ability to bring new and innovative ideas leveraging on our company's strengths. Mr. Er's rich business experience in logistics, bank financing, acquisitions and joint ventures, his proven track record of success, plus an extensive China network across the southern, northern and western regions are very valuable to us."
About Yosen Group, Inc.
Yosen Group, Inc. ("Yosen Group", or "Yosen") was founded in Yiwu City, Zhejiang Province, in 1997. Yosen Group, through its corporate headquarters in China and its wholly-owned U.S. subsidiary, is committed to building cross-border sales channels for bringing the world's best consumer products to China and, simultaneously, introducing China's most competitive products to the overseas markets. Yosen Group is China Commodity City Group's exclusive partner in the Greater New York area. The Company operates under the "Yosen" and "Yong Xin" brand names.
For more information, visit http://www.yosn.com/.
Safe Harbor Statement
Certain statements in this press release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the Company's future performance. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. 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 periodic reports that are filed with the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
For more information, please contact:
Xiaochun Yang
Tel: +86-571-2888-8036
Email: [email protected]
SOURCE Yosen Group, Inc.
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