Nova Lifestyle (NVFY) CEO Wong Resigns

October 10, 2016 7:04 AM EDT

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Nova LifeStyle, Inc. (Nasdaq: NVFY) announced that Mr. Ya Ming “Jeffrey” Wong has resigned as Chief Executive Officer (“CEO”) in order to pursue other opportunities. Before his resignation, Mr. Wong’s primary responsibilities at the Company was to operate and oversee manufacturing facilities and business in mainland China. Mr. Wong’s departure was not due to any disagreements with the Company or Board of Directors and was a voluntary decision resulting from the Company’s recent agreement to sell its China-based business. The Board of Directors has appointed Company Chairperson and President Ms. Tawny Lam to serve as Interim CEO.

Ms. Lam stated, "On behalf of the Board, I would like to thank Jeffrey for his leadership and commitment in helping us build Nova LifeStyle into the company it is today. With the impending sale of our China business we appreciate Jeffrey’s desire to seek other opportunities and we wish him well in his future endeavors. I would also like to thank the Board of Directors for its support in electing me Interim CEO and I am excited to continue building our e-Commerce business and distribution center in North America.”

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