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Disclaimer
OTHM Announces Results of Special Board of Directors Meeting
Oriens Travel & Hotel Management Corp., the Next Generation International Hotel Brand Operator, announced today that Mr. Ken Chua, President of Oriens, submitted his resignation and renounced all other offices held. The announcement came during yesterday’s special meeting of the Board of Directors to set the pace for the Company’s future operations, mergers and acquisitions, and executive leadership.
Mr. Chua’s resignation letter stated, “There will always come a time in every executive’s or director’s tenure, where he or she must evaluate their contribution to the cause.”
“It is with a heavy heart that we accept Mr. Chua’s resignation and we thank him for an outstanding job for the years of service he has provided,” commented one senior Board Member.
Chua’s letter ended by saying, “As Oriens Travel & Hotel Management goes on to obtain the success it deserves, under an evolved direction and new leadership, I have no regrets as I hand in this resignation. I am extremely excited to finally be able to see the realization of my vision… once just a bunch of ideas, but today, very tangible, totally accessible and completely achievable.”
Mr. Chua’s resignation becomes effective today, Friday, September 12th, 2014, at 5:00 p.m. (PDT). Starting Monday, September 15th, 2014, the Board of Directors anticipates appointing a new President and CEO.
Contained within the proposed succession strategy, a merger and acquisition also was presented for a vote – an opportunity that has been discussed for several months. Up until Chua’s resignation, benefits of the merger proposal were obstructed. As a result of Chua’s resignation, merging with a fully operating and solvent entity in concert with acquiring an executive officer, the action will likely commence.
Oriens Travel & Hotel Management Corp. is involved in the operation of hotels and resorts primarily in the United States and Central America under the Hotel PURE brand. The company also operates Friendly Reservations Online, a proprietary and sophisticated online booking system designed to execute reservations capture through Hotel PURE consumer facing websites, as well as individual hotel websites operated by Oriens on behalf of hotels branded under the Hotel PURE brand. Oriens is based in Las Vegas, Nevada.
For more information on the company visit www.orienscorp.com
