Feihe International Appoints New Director
BEIJING and LOS ANGELES, Feb. 6, 2012 /PRNewswire-Asia-FirstCall/ -- Feihe International, Inc. (NYSE: ADY; "Feihe International" or the "Company"), one of the leading producers and distributors of premium infant formula, milk powder and soybean, rice and walnut products in China, today announced that the Board of Directors has appointed Ms. Xiaofei Ren to the Board effective January 31, 2012. Ms. Ren will serve as an independent director and a member of the Audit Committee, replacing Mr. Sean Shao, who is leaving for personal reasons and had no disagreements with the Company. Ms. Ren will also serve as a member of the Nominating/Corporate Governance and Compensation Committees of the Board.
Ms. Ren has served as Financial Director of Beijing Bonianhengteng Film and Television Culture Media Co., Ltd since September 2011. From October 2004 to August 2011, she was a senior accountant at Beijing Xinghua CPA Ltd. and was also an accountant at Beijing Zhongfadaoqin CPA Ltd. from 2003 to 2004. She served as Financial Manager of Zhengzhou Columba Holiday Hotel from 1998 to 2003. Prior to that, she served as Chief Accountant of Zhengzhou Diefa Industry and Trade Co., Ltd. She is attending the Central University of Finance and Economics and received her bachelor's degree from the University of Zhengzhou. Ms. Ren is also a member of the Chinese Institute of Certified Public Accountants ("CICPA"). She has more than ten years of experience in auditing, investment consulting and public offering consulting for national, multi-national and publicly traded companies, including U.S. public companies, and has extensive experience with US GAAP.
Mr. Leng You Bin, the Company's Chairman and Chief Executive Officer, stated, "We are pleased to welcome Ms. Ren to the Board of Feihe International. Her wealth of expertise and experience in accounting, finance, and executive management will be of enormous value to the Board and the Company." Mr. Leng continued, "We also sincerely thank Mr. Shao for his contribution to the Company and we wish him well in his future endeavors."
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