Net Element, Inc. announced that Mr. John Wiegand has joined Net Element’s board of directors and will serve as the chairman of the compensation committee and a member of the Company’s audit, nominating and governance committees. Mr. Weigand is an accomplished financial services executive with more than 20 years of merchant financing and electronic payments industry experience. Mr. Weigand is currently the CEO of Merchant Growth Capital, LLC. Mr. Weigand has replaced Drew Freeman, who resigned from the Board of Directors to pursue other interests.