KBS Fashion Group Limited announced changes to its senior management and Board of Directors. On November 1, 2017, Keyan Yan resigned from his positions as Chief Executive Officer and President of the company. Yan will continue to serve as Chairman of the Board.

The Board has appointed Mr. Xiaowen Zheng as its new CEO and President, effective immediately. The Board also voted to appoint Xiaowen Zheng as director of the company and the size of board increased to eight. Additionally, Ms. Lixia Tu, who currently serves as Chief Financial Officer of the company, was appointed as Secretary of the company, effective immediately.

Zheng has extensive experience in China's advertising and media industries. Prior to this appointment, as the founder, Mr. Zheng has served as Chairman and CEO of Shancangzi (Xiamen) Culture Communications Co. Ltd. Zheng currently also serves as a board director of Advertising Association of Fujian Province and Advertising Association of Xiamen City, a member of China Public Relations Association.