Nanjing, China - July 9, 2012, Nanjing, China - China Yurun Food Group Limited announces the following changes, effective July 7, 2012.
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Zhu Yicai has tendered his resignation as an executive director, the chairman of the Board, and a member of both the Nomination Committee and Remuneration Committee of the Company.
Mr. Yicai has been the Chairman of the Company and an executive Director since April 2005. He also holds directorships in various subsidiaries of the Company and is a director of Willie Holdings Limited, a substantial shareholder and a shareholder of the Company.
Mr. Zhu founded the Group in 1993 and has 19 years of experience in the industry. In 2003; he participated in a CEO training course at China Europe International Business School. Mr. Zhu is the vice president of Nanjing Chamber of Commerce, the president of Nanjing Federation of Industry and Commerce, and a vice-chairperson of China Society for the Promotion of Guangcai Program. Mr. Zhu was elected as a delegate to the National People’s Congress for two consecutive sessions in 2003 and 2008.
Mr. Zhu studied economic management at Hefei Industrial University. In order to continuously benefit from Mr. Zhu's tremendous experience, Mr. Zhu has been appointed as the Honorary Chairman and a Senior Advisor to the Board.
Yu Zhangli, the existing chief executive officer and executive director, has been appointed as the chairman of the Board.
Mr. Zhangli has 16 years of experience in the meat product industry. Mr. Zhangli is an executive director of the Company and assumed the duties of chief executive officer of the Company on 9 March 2012. Prior to that, he was an executive director of the Company from January 2010 and was responsible for the upstream chilled and frozen meat business of the Group.
He joined the Group in March 1996 and held various positions within the Group, namely manager of supply department from 1996 to April 2001, general manager of Anhui Furun Meat Processing Co., Ltd. from May 2001 to September 2003, and general manager of Kaifeng Furun Meat Product Co., Ltd. from October 2003 to April 2007. He graduated from the School of Business Administration of Henan University with specialisation in economic management.
Li Shibao was appointed as the chief executive officer of the Company.
Mr. Shibao has 12 years of experience in the meat product industry. He joined the Group in August 1999 and worked at Nanjing Jinfurun Food Co., Ltd. from August 1999 to February 2008. From March 2003 to February 2008, he was the general manager of Nanjing Jinfurun. Since February 2008, Mr. Shibao has been a vice president of the Company, responsible for the Group’s processed meat products business. ■