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TheStreet Open House

FAB Universal Board Of Directors Appoints Steve Sun As Chief Operating Officer

FAB Universal (NYSE MKT:FU), a worldwide distributor of digital media and entertainment, today announced the appointment of Steve Sun as Chief Operating Officer, a new position at the company. Mr. Sun will be responsible for the management of FAB Universal’s day-to-day operations and will be based in Beijing.

“As we continue to grow and expand our operations and distribution channels, FAB needs a proven operations executive to strengthen our international management capabilities,” said Chris Spencer, CEO of FAB Universal. “Steve’s extensive background managing high growth companies in both the U.S. and China makes him the right executive for this important new role. We welcome Steve to the FAB Universal team and look forward to his contributions.”

“With my experience managing growing businesses in both the U.S. and China, I am in a unique position to help build FAB’s operations in both countries,” said Steve Sun. “The increasing disposable income of China’s growing middle class and the Chinese Government’s support of the media and entertainment industries coupled with FAB’s established reputation and growing distribution channels provide myriad opportunities for FAB and I am excited to help drive the company’s growth.”

Mr. Sun, (52), has over twenty-five years of broad-based management and operations experience with emerging growth companies . Mr. Sun is currently a director and chairman of the investment committee of Concord Medical Services Holdings Limited, a publicly traded healthcare company based in Beijing, China. Mr. Sun was a co-founder of Concord Medical and served as Co-Chairman of the Board of Directors from 2008 to 2011 in addition to serving as chief financial officer from 2009 to 2011. From 2006 to 2008, Mr. Sun was a director and the president of Aohua Medical Services Ltd, based in Shenzhen, China. From 2004 to 2005, Mr. Sun served as the chief operating officer of Sunshine100 Real Estate Group, a Beijing-based real estate company. From 1997 to 2000, he served as executive vice president of AE Capital Markets Inc., a New York-based investment bank. Mr. Sun received a MBA from the University of Chicago Booth School of Business, where he is currently a member of the global advisory board. Mr. Sun has also received a master's degree in operational research from Xidian University, Xian, China and a BS degree in mathematics from Heilongjiang University, Harbin, China.

Mr. Sun currently serves as an independent director of Karen International Holdings Ltd., a real estate and leather company listed on the Hong Kong Stock Exchange. Mr. Sun is also an active investor in the digital media, entertainment, health care and real estate industries.

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