C Zhongpin has appointed two new independent directors to its board of directors.
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The new directors increased the meat and food processing company’s board of directors to five members, three of whom are independent.
Yaoguo Pan was appointed to replace Yunchun Wang, who resigned from the board of directors in September. Pan will serve as chairman of the compensation committee.
Min Chen was appointed to the board on 10 October 2007 and will serve as chairman of the nominating committee. Raymond Leal, who was appointed to the board of directors on 15 June 2007, will serve as chairman of the audit committee.
“We are pleased to welcome these highly qualified directors to our board. We feel Mr. Pan and Mr. Chen will make a significant contribution to our company and ensure we meet a high standard of corporate governance,” said Xianfu Zhu, chairman and CEO of Zhongpin, Inc. “With the addition of our new directors, the majority of the members of the company’s board of directors are independent, which satisfies a key requirement to becoming listed on the NASDAQ Global Market. In becoming a NASDAQ-listed company, we hope to expand our investor base and increase both our liquidity and our visibility in the market.”
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By GlobalDataSince 1990, Pan has been employed as a researcher at the Development Research Center, a policy research and consulting institution that operates directly under the State Council of China, where he is responsible for conducting research concerning the meat industry, including the areas of food supply, animal husbandry and food nutrition.
Chen has over 10 years of experience in executive management as vice president of corporate business development for Asia at Teleflex Inc, a NYSE-listed company.
