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China Architectural Engineering CFO Bert Grisel Appointed Vice President of KGE Group Ltd.

Post Time:Apr 01,2009Classify:Company NewsView:313

China Architectural Engineering, Inc. (CAE: 17.64, 0, 0%) (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."

Source: China Architectural Engineering, Inc. Author: shangyi

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