LOS ANGELES, Jul 05, 2006 (BUSINESS WIRE) -- Health Sciences Group, Inc. (HESG) , provider of innovative health and wellness products, today announced that the Board of Directors has appointed Stuart Gold as its Chief Executive Officer. Mr. Gold is expected to accelerate the execution of a new growth strategy and build shareholder value. Fred E. Tannous, former CEO, will assume the position of Chief Financial Officer.
Recognizing the need for experienced, industry-specific leadership, the Board of Directors set out to find and recruit a "change agent" to spearhead the Company's new strategic direction. Under Mr. Gold's leadership, driven by a clear and passionate vision, the new business of Health Sciences Group will be assertive about aligning strategy and action and using game-changing innovation and implementation to catapult products forward to capture new market share and deliver revenues and profits.
"The appointment of Stuart as CEO is a defining moment for the Company," said Fred E. Tannous, Co-Chairman and CFO of Health Sciences Group. "From the beginning of our search, the Board's objective was to identify and select an innovative commander and creative talent who could build on the strengths and opportunities of our proprietary, patented technologies and products. We considered many highly qualified candidates for this position and with Stuart Gold, we believe have met our objective." Tannous continued, "Stuart is an internationally recognized branding evangelist with a remarkable track record of assertive leadership, innovation, brand building and revenue growth in the wellness sector. Not only has he dedicated his career to creating products that support and enhance healthy living, but he has a proven track record of building and managing successful enterprises. As the new CEO of Health Sciences Group, we believe he will make a tremendous, positive impact by executing on many fronts including establishing new distribution channels for our products and accelerating revenues and earnings which are expected to translate into improved shareholder value. We are very excited to have Stuart on board."
"I am pleased to be part of a company that is on the forefront of making wellness a matter of choice not a matter of chance," said Gold. "With the general health of the United States reaching crises level, the demand for healthier lifestyles, to stay healthy longer, to prevent future illness and to look and feel better, personal wellness and preventative healthcare is becoming a flourishing market. I believe Health Sciences Group is uniquely positioned to take advantage of the opportunity. By bringing to market products with a purpose, we will answer the booming demographic appetite for health and wellness, helping to make healthstyle the new lifestyle. I'm looking forward to leading Health Sciences toward a path of improved shareholder value."
Formerly, Mr. Gold was the Chief Operating Officer of The Republic of Tea and is acknowledged as one of the innovative gurus behind the success of the Novato, California based company. Co-founded in 1992 by the creators of The Banana Republic, The Republic of Tea was a small fledgling company when Gold joined. Shortly thereafter, Gold helped to create a Tea Revolution in America. With Mr. Gold as the lauded editorial voice for the company's award winning mail order catalogue, website and line of innovative products, The Republic of Tea spawned the entirely new food category of specialty tea and continues to thrive with enormous success as the industry leader. Gold oversaw all aspects of the company's business and was instrumental in the company's brand building, marketing and product development strategies that have made The Republic of Tea one of the most successful and fastest growing specialty brands in America today.
Stuart Gold is an entrepreneur, author, future-finder and both imaginer and champion of imagineers. An international best selling author, Stuart is recognized as an architect of change and branding evangelist whose unique insights, strategies and strong bias for action have become a blueprint of inspiration and motivation for entrepreneurs, team managers and business leaders on how to succeed through vibrant and innovative ideas.
About Health Sciences Group, Inc.
Health Sciences Group identifies, develops and commercializes innovative nutritional and functional products from natural sources to provide consumers and health professionals with personal wellness and preventative healthcare options. With a commitment to instill health, happiness and well-being into every life, we are dedicated to making a dramatic positive impact on men, women and children everywhere by becoming the premier provider of innovative functional foods, beverages and natural-based nutraceutical and cosmeceutical products. We market our own line of proprietary products based on novel technologies with clinically-supported, GRAS-certified ingredients under the Health Sciences Group, Swiss Research(TM) and Swiss Diet(TM) brand names. For more information, visit www.HealthSciencesGroup.com, www.SwissDiet.com, www.Sequesterol.com and www.Shugr.com.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, the independent authority of the special committee to act on the matters discussed, the successful negotiation of the potential acquisition and disposal of transactions described above, successful implementation of the company's business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with the Securities and Exchange Commission.