The board of directors of Cowell e Holdings Inc. announced that Mr. Kim Kab Cheol will resign as the co-chief executive officer of the company and executive director with effect from September 30, 2017 to devote more time to his personal commitments. Upon Mr. Kim's resignation, Mr. Seong Seokhoon, the co-chief executive officer of the company and executive director, will become the sole chief executive officer of the company and will oversee the entire operations of the group.