SOURCE: Artfest International, Inc.

December 14, 2009 08:15 ET

Artfest's New CFO Christopher Miner Has Led Tech & Marketing Firms Including Global Consumer Products Giant Herbalife

-- Served as CFO, CEO, Board Member and Other Key Roles at Numerous Public and Private High-Growth Companies

DALLAS, TX--(Marketwire - December 14, 2009) - Artfest International, Inc., (OTCBB: ARTS), a leading-edge arts distribution company, announced today that it has appointed Christopher Miner as its new Chief Financial Officer. Miner is a 25-year veteran of highly successfully technology and marketing firms.

Miner brings to Artfest a wealth of expertise in finance, operations, equity funding, and increasing corporate revenues and shareholder value. His vast experience includes serving on Herbalife International's Board of Directors, as well as its Audit, Finance, and Compensation Committees. During his tenure, between 1996 and 2002, Herbalife grew into a $1.7 billion global consumer products giant with over 100 products. Miner led Herbalife's successful transition into online sales. He also transitioned executive recruitment to Fortune 500 executives and eventually completed a private sale transaction of the company valued at $682 million.

"I'm pleased to join the executive team at Artfest and look forward to building it into the leading arts distribution company in the world. Given my prior experience with direct sales companies including one of the most successful in the world, Herbalife, I see in Artfest a direct sales strategy that will transform the way art is bought and sold. My goal is to play a key role in ramping revenues through direct sales," stated Artfest CFO Christopher Miner.

Artfest CEO Edward Vakser added, "We are excited and honored to have Chris become our CFO. Having just hit record revenue levels and become profitable in the third quarter, we welcome his expertise in leading us into consistently high levels of revenue and EPS growth. He's a veteran. He's done this all before with other globally recognized companies and we look forward to growing with him."

Miner was most recently a Partner at Tech West Ventures, LLC, a specialty financial advisory firm where he built shareholder value through innovative financing, boosting revenues and cash flows, and increasing ROI for numerous ventures in the tech and health and wellness segment. At Tech West Ventures, Miner devised and implemented successful direct sales strategies for Triviani International and OhGolly.com.

He has served as CEO, CFO and Director of Workstation Technologies, Inc., a $15 million developer of interactive communications software and hardware products where he achieved 20% EBITDA based on internal capital alone. Under his leadership, the company led the transition of video teleconferencing onto the desktop computer, in conjunction with Northern Telecom and Apple Computer.

Prior, he was CFO of Technology Marketing, Inc., a $25 million NASDAQ listed custom electronics engineering business. Miner was instrumental in the resurgence of the company where he led improved operating performance that resulted in a 200% increase in shareholder value.

Miner earned his Masters in Business Administration from the University of California and his Bachelors degree from the University of New York.

About Artfest International, Inc.

Artfest International, Inc. is a publicly traded Company under the stock symbol "ARTS." Artfest brings together artists, investors, decorators, designers, private collectors and art galleries. Artfest International's corporate site is www.artfestinternational.com. Artfest's subsidiaries are Art Channel, Inc. www.artchannel.tv, and Art Channel Galleries, Inc. www.ArtChannelGalleries.com, offering the most exciting product and rewards program in the history of direct sales marketing.

Safe Harbor Statement

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ARTS does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Contact Information

  • Artfest International, Inc.
    Investor Relations Contact:
    Corporate Profile
    646-810-0608