SHANGHAI, China, March 24, 2011 (GLOBE NEWSWIRE) -- Mecox Lane Limited ("Mecox Lane" or the "Company") (Nasdaq:MCOX), which operates one of China's leading online platforms for apparel and accessories, today announced the resignation of Mr. Kelvin Kenling Yu from the board of directors and the audit committee of the Company, and the appointment of Mr. Herman Yu as a director and as a member of the audit committee of the Company upon the closing of share purchases between certain shareholders of the Company and SINA Corporation ("SINA") (NasdaqGS:SINA) and a subsidiary of China Dongxiang (Group) Co., Ltd. ("DongXiang") (HKG:3818).
Mr. Herman Yu was nominated by SINA. He has served as the Chief Financial Officer of SINA since August 2007. Mr. Herman Yu has served as the Acting Chief Financial Officer of SINA from May 2006 to August 2007 and Vice President and Corporate Controller of SINA from September 2004 to May 2006. Prior to joining SINA, Mr. Herman Yu worked at Adobe Systems, as the Corporate Marketing Controller from June 2001 to September 2004 and as the Chief Auditor from January 1999 to May 2001. Mr. Herman Yu also held various finance and accounting management positions at Cadence Design Systems, Inc. and VeriFone, Inc. Mr. Herman Yu began his career with Arthur Andersen and is a California Certified Public Accountant. Mr. Herman Yu holds a Masters of Accountancy from the University of Southern California and a Bachelor of Arts in Economics from the University of California. He is a member of the American Institute of Certified Public Accountants (AICPA) and Financial Executive Institute.
"On behalf of the entire board and management team, I would like to thank Mr. Kelvin Kenling Yu for his service over the past several years and wish him all the best in his future endeavors. Mr. Kelvin Kenling Yu played an instrumental role in the Company's growth," commented Mecox Lane's Director and Chief Executive Officer Alfred Gu. "We are pleased to have Mr. Herman Yu to join our board. His depth of financial, accounting and operational experience will be invaluable to our Company in the future."