CAE's IR and Business Development Director Victor Li Assumes Finance Post
ZHUHAI, China & LOS ANGELES--(BUSINESS WIRE)--March 31, 2009--
China Architectural Engineering, Inc. (CAE) (NASDAQ:CAEI), a leader in the design, engineering, fabrication and installation of high-end building envelope systems, today announced that Bert Grisel, its chief financial officer since October 2008, has been promoted to the newly-created position of Vice President of KGE Group Ltd., the single largest shareholder of the Company.
Grisel, 45, will oversee corporate finance for Hong Kong-based KGE, which owns approximately 62% of CAE's outstanding shares of common stock. Prior to joining CAE last year, Grisel accumulated more than 19 years of global financial management experience in various positions at the international bank ABN AMRO.
Replacing Grisel as CFO at China Architectural Engineering is Victor Cheng Li, 43, who has served as CAE's director of investor relations and business development since the Company's inception. He has over 15 years of experience in management positions for international organizations, government agencies and multinational businesses.
CAE Chairman and CEO Ken Yi Luo commented, "Since joining China Architectural Engineering from ABN AMRO, Bert has worked quickly and effectively to review our financial controls and assess management control. Thanks to his work, the company is better equipped to meet the requirements of investors and regulators. We are pleased that he can now advance to a wider scope of responsibility in overseeing the strategy of KGE and its subsidiaries, including CAE. We are also pleased to announce that he is being succeeded by Victor Li, an executive who is well-versed in CAE's financial systems through his work as CAE's IR and business development director."
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About China Architectural Engineering
China Architectural Engineering, Inc. (NASDAQ:CAEI), which began operations in 1992, has maintained a leading position in the global commercial construction industry by providing timely, high-quality, reliable, fully integrated & cost-effective service solutions to our clients utilizing specialized technical expertise in the design, engineering, fabrication and construction of structural exterior cladding systems. It specializes in high-end curtain wall systems (including glass, stone & metal curtain walls), roofing systems, steel construction systems, eco-energy saving building conservation systems and related products, for public works and commercial real estate projects.
CAEI has worked with world-renowned architects and building engineers from China and other countries and has completed nearly one hundred large, complex and unique projects throughout China, Australia & Southeast Asia, including numerous award-winning landmark buildings in many of Asia's major cities. It is now looking to capitalize on its industry-leading expertise to expand aggressively beyond China into some of the other construction markets in the world, such as Middle East, Central Asia and Eastern Europe.
