Leo Motors Inc. announced effective on July 24, 2013, Ho Seok (Bruce) Lee has resigned his position as company's Chief Financial Officer and as a director serving on the Company's Board of Directors. Also on July 24, 2013, the Board of Directors of the company appointed Thomas Cheong as the new Chief Financial Officer and as a member of the Board of Directors of the company. Mr. Cheong has a broad spectrum of experiences including management, finance, marketing, international sales with a strong background in IT.