The board of directors of Cowell e Holdings Inc. announced that Mr. Lee Sun Yong has resigned as the chief executive officer of the company with effect from 20 June 2016 due to personal commitments. The Board further announced that Mr. Kim Kab Cheol, an executive Director, has been re-designated as the Chief Executive Officer of the company with effect from 20 June 2016. Mr. Kim Kab Cheol, aged 55, is an executive Director. Mr. Kim is responsible for the business operations and the day-to-day management of the Group. Prior to joining the Group in May 2004 as a plant manager at the Cowell Korea factory located in Dae-Jeon, Korea, he worked at the production, research and development and quality management department at LG Chem Ltd.