On January 24, 2017, the board of directors of Nova Lifestyle, Inc. received a letter of resignation from Mr. Michael Viotto, a member of the Board, a member and the Chairman of the Board's Nominating and Corporate Governance Committee, and a member of the Board's Audit and Compensation Committees, effective as of January 27, 2017. Mr. Viotto indicated that he was resigning for personal reasons, and not due to a disagreement with the company or the Board. On January 24, 2017, the Board appointed Mr. Charlie Huy La as a member of the Board, a member and the Chairman of the Board's Nominating and Corporate Governance Committee, and a member of the Board's Audit and Compensation Committees, in each case effective as of January 27, 2017, to serve until his successor has been duly elected and qualified. Since May 2015, Mr. La has served as a managing member of Grand Pinnacle Investment LLC, an investment company specializing in real estate investment and management. Mr. La has also served since November 2008 as the human resource information system lead at Reliance Steel and Aluminum Co.
Nova LifeStyle, Inc. is a designer and distributor of modern lifestyle furniture, primarily sofas, dining room furniture, cabinets, office furniture and related components, bedroom furniture and various accessories, in matching collections. The Companyâs product lines include the Nova Brands and Diamond Sofa (www.diamondsofa.com). Its products feature urban and contemporary styles, combining comfort and functionality in matching furniture collections and upscale luxury pieces appealing to lifestyle-conscious middle and upper middle-income consumers. Its product lines feature upholstered, wood and metal-based furniture pieces. It classifies its products by room, designation or series, such as living room, dining room, bedroom and home office series, and by category or product types, such as sofas, chairs, dining tables, beds, entertainment consoles, cabinets and cupboards. It also sells physiotherapeutic jade mats for use in therapy clinics, hospitality, and real estate projects.