Powerbridge technologies co., ltd. announces management changes

On october 24, 2019, the board of directors of powerbridge technologies co., ltd. appointed mr. stewart lor as the co-chairman of the board, the co-chief executive officer, and the president of the company, effective immediately. on the same day, mr. ban lor resigned from his position as the president of the company, effective immediately. mr. ban lor’s resignation from such position was not the result of any disagreement between the company and him on any matter relating to the company’s operations, policies or practices and he will continue with the company as co-ceo and co-chairman. mr. stewart lor is the co-founder of the company and serves on board and as the company’s chief financial officer since august 2018. previously, he served on the board and as the chief operating officer from october 1997 to september 2006. mr. lor served as president of lorons international corporation from august 1988 to october 1995. he had served various executive positions at cmark holdings ltd. and fanz co., ltd. from november 2006 to september 2017. except for mr. stewart lor’s sibling relationship with mr. ben lor, the co-chief executive officer and co-chairman of the board of the company, there are no family relationships between any of the executive officers and directors of the company. notwithstanding with mr. stewart lor’s appointment as the co-chairman of the board, the co-chief executive officer, and the president of the company, there has been no change to mr. stewart lor’s existing employment agreement with the company.
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