United States Commodity Funds appoints Chief Executive Officer

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May 18, 2015, 04:24 ET

OAKLAND, Calif., May 18, 2015 /PRNewswire/ -- United States Commodity Funds LLC (USCF) announced the appointment of John P. Love as President and Chief Executive Officer effective June 1st, 2015. Mr. Love succeeds Nicholas D. Gerber, who will remain Chairman of the Board.

"We are happy to have him in this new role, and look forward to continued growth under his leadership," says Nicholas Gerber, the Chairman of USCF. "John was an instrumental part of the team when we launched United States Oil Fund (USO) almost 10 years ago, and I'm pleased to promote him to this position." Mr. Gerber will remain Chairman of the Board and has been appointed as Vice President of USCF, and in those capacities he will oversee the transition to the new leadership and assist Mr. Love in his new role, respectively.

"I am excited for this new opportunity, and am looking forward to expanding our fund offerings," states Mr. Love, "I have confidence in the team and our ability to continue to drive innovation in the ETF industry." Mr. Love, 43, served most recently as Sr. Portfolio Manager for the funds sponsored by USCF, including United States Natural Gas Fund, LP (UNG), the largest natural gas ETF in the US. Over the past 10 years, Mr. Love has served in various roles for the company including portfolio management and new fund development. Mr. Love is a graduate of University of Southern California and a CFA Charterholder.

USCF also announced a new Chief Financial Officer, Stuart Crumbaugh, effective May 15, 2015. Mr. Crumbaugh, 51, joined USCF earlier this year as the Assistant Chief Financial Officer.

"I'm looking forward to this new challenge, and the opportunity to work with John and the team to continue to grow USCF," states Mr. Crumbaugh. "The addition of Stuart to our company brings expertise that will be valuable to us as we grow," said Mr. Gerber.

Prior to joining USCF, Mr. Crumbaugh was the Vice President Finance and Chief Financial Officer of Sikka Software Corporation, a software as a service healthcare company providing optimization software and data solutions. Mr. Crumbaugh's experience includes senior roles in finance at companies such as Auction.com, LLC, IP Infusion, Inc. and Solera Holdings, Inc. Mr. Crumbaugh is a graduate of Michigan State University.

United States Commodity Funds is a well-known ETF sponsor of a range of energy-based commodity ETFs, and the broad-index United States Commodity Index Fund (USCI).

Distributed by ALPS Distributors, Inc. USO 0001011 exp. 12/ 2015

Forward Looking Statements

Statements other than statements of historical facts included in this press release may constitute forward looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

This material must be preceded or accompanied by a prospectus. Please read it carefully before investing or sending money.

United States Oil Fund, LP (USO), United States Natural Gas Fund, LP (UNG), United States 12 Month Oil Fund, LP (USL), United States Gasoline Fund, LP (UGA), United States 12 Month Natural Gas Fund, LP (UNL), United State Brent Oil Fund, LP (BNO), United States Short Oil Fund, LP (DNO), United States Diesel-Heating Oil Fund, LP (UHN), United States Commodity Index Fund (USCI), United States Copper Index Fund (CPER) and United States Agriculture Index Fund (USAG), (together "the Funds").

The Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity and futures trading is highly speculative and generally volatile and are not suitable for all investors. The Funds are speculative and involve a high degree of risk. An investor may lose all or substantially all of an investment in the Funds.

Please review the prospectus for the breakeven calculations for the Funds. Ordinary brokerage commissions apply. Shares of the Funds are not FDIC insured, may lose value and have no bank guarantee. Indexes are unmanaged and do not reflect the deduction of any fees, expenses or taxes; individuals cannot invest directly in an Index. Only authorized participants may purchase or sell directly with the Funds. The Funds are not operated in a fashion such that their NAVs will reflect the percentage change of the price of any particular futures contract as measured over a time period greater than one day. It is not the intent to operate the Funds in a fashion such that their NAV will equal in dollar terms, the spot price of any particular futures contract.

John P. Love is a registered representative of ALPS Distributors, Inc.

For additional information, write: ALPS Distributors, Inc. 1290 Broadway, Suite 1100, Denver, CO 80203, or call 1-800-920-0259

Download a Prospectus: USO, USL, DNO, UNG, UNL, UGA, UHN, BNO, USCI, CPER, USAG