On July 27, 2020, the Board of Directors of Nova LifeStyle, Inc. appointed Mr. Ming-Cherng Sky Tsai as a member of the Board and a member of Compensation Committee, Audit Committee and Nominating and Corporate Governance Committees of the Board, to fill the vacancies following the resignation of Mr. Bin Liu on July 20, 2020. On July 27, 2020, Umesh Patel stepped down as the Chairman of the Compensation Committee of the Board, and was appointed effective as of the same date as the Chairman of the Audit Committee of the Board; Mr. Tsai was appointed as the Chairman of the Board's Compensation Committee.
Nova LifeStyle, Inc. is a designer and distributor of modern lifestyle furniture, primarily sofas, dining room furniture, cabinets, office furniture and related components, bedroom furniture and various accessories, in matching collections. The Companyâs product lines include the Nova Brands and Diamond Sofa (www.diamondsofa.com). Its products feature urban and contemporary styles, combining comfort and functionality in matching furniture collections and upscale luxury pieces appealing to lifestyle-conscious middle and upper middle-income consumers. Its product lines feature upholstered, wood and metal-based furniture pieces. It classifies its products by room, designation or series, such as living room, dining room, bedroom and home office series, and by category or product types, such as sofas, chairs, dining tables, beds, entertainment consoles, cabinets and cupboards. It also sells physiotherapeutic jade mats for use in therapy clinics, hospitality, and real estate projects.
NOVA LIFESTYLE, INC. 