NOVA LIFESTYLE, INC. (NASDAQ:NVFY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 22, 2017, the Board of Directors (the “Board”) of Nova Life>
Ms. Su, age 34, has served as the Company’s Corporate Secretary since November, 2016. From 2012 to November, 2016, Ms. Su served as the accounts payable coordinator of Diamond Bar Outdoors Inc., the wholly-owned subsidiary of the Company, and concurrently as our executive secretary. Ms. Su received her Bachelor’s Degree in E-Commerce Business from California State Polytechnic University, Pomona in 2005. Ms. Su will continue to serve as the Company’s Corporate Secretary following her appointment to the Board.
Mr. Chuang, age 48, served as the managing partner of Z & C CPAs, LLP from June, 2011 to August, 2017. Mr. Chuang received his Bachelor of Science in Finance from California State University, Northridge in 1997 and his Master of Science in Taxation from Golden Gate University in 2006. Mr. Chuang is a Certified Public Accountant and is a member of California Society of Certified Public Accountants.
In connection with his appointment as CFO, the Company entered into an employment agreement with Mr. Chuang.The employment agreement provides that Mr. Chuang will receive compensation in the amount of $50,000 per year, payable weekly. The term of the employment agreement is for one year.
There are no arrangements or understandings between Ms. Su or Mr. Chuang and any other person to which Ms. Su and Mr. Chuang were appointed as a director and the CFO of the Company, respectively. In addition, there is no family relationship between Ms. Su and Mr. Chuang and any director or executive officer of the Company.
About NOVA LIFESTYLE, INC. (NASDAQ:NVFY)
Nova LifeStyle, Inc. is a manufacturer of contemporary styled residential furniture incorporated into a marketing and sales platform offering retail, as well as online selection. The Company operates through the design, manufacture and sale of furniture segment. The Company monitors trending and work to create design elements that are then integrated into its product lines that can be used as standalone, as well as whole room and home furnishing solutions. Through its global network, the Company also sells (through a third-party manufacturing partner) a range of bedding foundation components. Its LifeStyle brand family includes Diamond Sofa (www.diamondsofa.com), Colorful World, Giorgio Mobili and Bright Swallow International Group Limited (Bright Swallow). The Company’s customers principally consist of distributors and retailers having a specific geographic coverage that deploy middle to high-end private label home furnishings.
