New Energy Systems Group, a young company, is a vertically integrated original design manufacturer and distributor of lithium ion batteries and backup power systems for mobile phones, laptops, digital cameras, MP3’s and a variety of other portable electronics. Today, New Energy took a major step towards enhancing their position in the electronic sector by promoting Nian Chen to the position of CEO.
Chen has made a name for himself by serving as a Vice President of New Energy’s Anytone division. Chen is a co-founder of Anytone which was purchased by New Energy in December of 2009.
During his time at Anytone, Chen helped the young company evolve from a start-up to one of the largest ODM manufacturers of backup power systems for portable electronics throughout China. Chen will replace Fushun Li who resigned as CEO of New Energy on May 14 of this year but will remain a valuable member of New Energy’s board of directors.
Weihe Yu who serves as the Chairman of the company was quoted as saying, “I am extremely pleased to promote Nian Chen to the role of CEO. I have known and worked with him for over 5 years, and I am confident that our company will benefit from his deep understanding of the consumer electronics industry. In addition, our rapidly growing company will benefit from his strong operational and managerial skills. We have been planning this leadership change for some time and consequently anticipate a seamless transition. At the same time, I want to extend my sincere gratitude to Fushun Li for his dedication and exemplary stewardship in his role as CEO. Fushun proved himself to be an effective manager adept at establishing and driving New Energy’s vertical integration strategy. We look forward to his continued contributions as a member of the company’s board of directors.”
Currently, the New Energy Systems Group is trading in the $7.97 range. With a leader such as Nian Chen in place and many products in the pipeline, New Energy Systems is starting to evolve into a global presence in the field of electronics.
To learn more about the New Energy Systems Group, visit their website at: newenergysystems.com and you’ll see why so many investors are considering putting this young company into their portfolio.
Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net
Disclosure: NO POSITIONS