Challenger Acquisitions Limited announced it has appointed Mr. John Le Poidevin as Non-Executive Chairman and Mr. Richard Marin as a Non-Executive Director to its Board of Directors effective immediately. As a result of these appointments, Mr. Gustafson, formerly Executive Chairman has been appointed Chief Executive Officer. Mr. Le Poidevin has also been added to the Company's Audit Committee and Remuneration Committee.

John Le Poidevin is a senior non-executive based between Guernsey and London with significant experience in advising businesses in relation to their strategy, investment and financing, M&A matters, corporate governance and financial management. Richard A. Marin is currently President and CEO of The New York Wheel, LLC. He is a finance industry executive with 37 years' experience with previous positions including Chairman and CEO of AFI (USA) Inc, a major commercial property developer, former Chairman and CEO of Bear Stearns Asset Management, a member of the Management Committee of Bankers Trust Company, and Chairman and CEO of Deutsche Asset Management Inc.