On April 21, 2016, the Board of Directors of Viewtran Group, Inc. received a letter of resignation from Dr. Xianhang Wang from his positions as the company's Chief Executive Officer and a director, effective immediately. Dr. Wang indicated that his resignation was not the result of any disagreement with the company on any matter relating to the company's operations, polices or practices. On the same date, the Board, which now consists solely of Jing Xu, appointed Mr. Xu the Chief Executive Officer of the company.