Origin Agritech Limited (NASDAQ:SEED) (“Origin” or the “Company”), a technology-focused supplier of crop seeds and agricultural products in China, today announced that Mr. Larry Kenneth Cordell, former Chairman of the Board, President and CEO of UAP Holdings (“UAPH”) was appointed to Origin’s Board of Directors. Mr. Cordell will replace Mr. Remo Richli as the Chair of the Audit Committee and an Independent Director to the Company effective January 1, 2012. Mr. Richli is retiring from the Board after having completed his two three-year terms.
“Larry has the most extensive business experience in global agriculture. We are very excited to welcome him to Origin’s Board,” said Dr. Gengchen Han, Origin’s Chairman, President and CEO. “In addition to his key industry and capital markets involvements, Larry has been instrumental in helping maintaining excellent corporate governance and financial reporting at various companies he represented.”
“I have tremendous respect for Chairman Han and his dedicated team at Origin. Agriculture will continue to hold strategic importance for China’s growth. Origin has been at the fore front of improving crop yields with innovative technologies,” said Cordell. “It is a privilege to serve on the board of such industry leader.”
Mr. Cordell served as Chairman, President and CEO at UAP Holdings when the company was acquired by Agrium Inc. through a tender offer in May, 2008. Prior to its acquisition, UAPH was the largest independent distributor of agricultural inputs and professional non-crop products in the United States and Canada. Mr. Cordell joined United Agri Products in 2001 and held various executive positions throughout his tenure. Previous to United Agri Products, he held executive positions at FMC Agricultural Products, where he last served as its Global Herbicide Director. Mr. Cordell started his career at Rohm and Haas.Mr. Cordell is currently a Director of Momentive Performance Material Holdings, a global leader in specialty chemicals and materials and serves as a consultant to the private equity investment firm Apollo Global Management LLC.
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