China Nutrifruit Group, a producer of fruit-based products, has signalled its intention to improve corporate governance standards, bringing it in line with the requirements to list on “a major US exchange”.
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Nutrifruit has appointed Tony Chun Wai Chan, William Haus, and Jingfu Li as independent board members, effective immediately. With these additions, China Nutrifruit’s board now comprises of five directors, three of whom are independent.
The company also adopted a code of ethics and established audit, compensation and corporate governance and nominating committees.
“Our new directors bring valuable experience in the areas of accounting and finance, the capital markets and horticulture that will serve us well as we seek to expand our business and enhance our position in China’s premium specialty fruit market,” said Jinglin Shi, CEO of China Nutrifruit.
“Furthermore, by adopting a code of ethics and establishing key committees and a board comprised of a majority of independent directors, we now meet the corporate governance requirements to list our shares on a major US exchange.”
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