PALO ALTO, Calif., Oct. 14, 2013 /PRNewswire/ -- Cellular Biomedicine Group, Inc. (OTCQB: CBMG) today announced that the Board of the Company has appointed three new independent directors to the Board, namely, Leo Dembinski, David Bolocan and Jeff Auerbach.
Mr. Dembinski is a Certified Public Accountant with 30 years of experience as a controller and a senior financial and operating executive for a major retailer in Chicago. As CEO of CPS Direct Marketing, in Phoenix Arizona, he led the catalog company to significant revenue increases over his tenure. He has served on many organizations during his career, including President of the Chicago Retail Financial Executive Association and Chairman of the Associated Merchandising Corporation's financial executives. He also served as co-chair of the Direct Marketing Association's catalog leaders.
Mr. Bolocan is a well-seasoned retail banking and payments executive with many years of experience owning and running business divisions and managing P&Ls. He currently is serving as Managing Director and Head of Retail Banking Solutions for Argus Information and Advisory Services in New York. Previously, he was with SunTrust Bank, the seventh largest US commercial bank, as a senior VP and Head of Consumer Deposits with a $75B portfolio.
Mr. Auerbach is a licensed investment professional and has spent many years working in the investment industry. Currently, he serves as head of institutional sales at Kuhn's Brothers Securities Corporation in New York City. Prior to that, he was Senior Vice President of the Private Client Group at vFinance Investments which merged with National Securities.
Mr. Steve Liu, Chairman of CBMG said, "The accounting, banking and capital market experiences of the three new appointments will add diversity and valuable assets to our independent board."
About Cellular Biomedicine Group
Cellular Biomedicine Group, Inc. develops proprietary cell therapies for the treatment of certain degenerative diseases and cancers. Our developmental stem cell, progenitor cell, and immune cell projects are the result of research and development by scientists and doctors from China and the United States. Our flagship GMP facility, consisting of eight independent cell production lines, is designed, certified and managed according to U.S. standards. To learn more about CBMG, please visit: www.cellbiomedgroup.com
Statements in this press release relating to plans, strategies, trends, specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "expects," "plans," "intends," "estimates," "potential," or "continue," or similar terms or the negative of these terms. Although CBMG believes the expectations reflected in the forward-looking statements are reasonable, they cannot guarantee that future results, levels of activity, performance or achievements will be obtained. CBMG does not have any obligation to update these forward-looking statements other than as required by law.
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SOURCE Cellular Biomedicine Group