Michael Jemal Elevated to Chairman of Haier America

August 4th, 2009

Michael Jemal Elevated to Chairman of Haier America

-- Shariff Kan Promoted to President of White Goods --

New York, NY, August 4, 2009 – Michael Jemal, previously President and CEO of Haier America has been elevated to Chairman of the Board for Haier America and has promoted Shariff Kan to President of the newly created White Goods Group of Haier America, it was announced today.

After more than 10 years of leading Haier America to stellar growth, Mr. Jemal has restructured the company and will now serve as Chairman of the company to lead strategic planning of Haier America’s expansion and assist in Haier’s globalization efforts. This will allow the company to better focus on profitable growth and existing market opportunities.

Mr. Jemal has named Shariff Kan, who previously served as Executive Vice President, as President of the White Goods Group. Mr. Kan, who brings over 30 years of experience in retail with companies including Bloomingdales and The Wiz, will take over day-to-day leadership of Haier America and focus on the continued growth of the brand in North and South America.

“Over the past 10 years we have invested heavily in systems, new product development, channel development and brand development. However, what I feel to be our greatest accomplishment is the team of professionals we have assembled within Haier America. As the breadth of Haier products continues to expand, I see tremendous growth opportunities for our company and my new position will allow me to focus my energy on long-term growth and strategy,” said Michael Jemal. “Shariff has been with me at Haier America from day one when we started out with only three products. He has a great understanding of the retail landscape and knows our capabilities as well as anyone. I am confident he will lead Haier America to new heights.”

Mr. Jemal founded Haier America in 1999. Under his leadership, Haier America expanded in the United States, Canada and into South America through strategic channel partners, and successfully gained significant market shares across various product categories in Major Appliances and Consumer Electronics. He also oversaw Haier’s marketing and brand development efforts and the construction and operation of the $40 million Industrial Park in Camden, South Carolina, the first production plant ever built in the United States for a Chinese company.

“This is an exciting opportunity for me and I am proud to lead Haier America into the future,” said Mr. Kan. “I wish Michael well with his new role and we will continue to foster the working relationship we began 20 years ago. My expectations for the company are in line with Michael’s and we both expect nothing less than to continue the success we’ve had these past 10 years. ”

Mr. Kan joined Mr. Jemal in 1999 as Vice President of Merchandising to launch Haier America. Since 2005, he has served as Executive Vice President, overseeing all Haier America Strategic Business Units. In 2002, he was recognized amongst the 50 Most Outstanding Asian American Business Men.