BEIJING, March 29, 2012 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, announced today the appointment of Mr. Meng Mei as an independent director to fill the vacancy created by the resignation of Ms. Chup Hung Mok. Mr. Mei has also been appointed as the chairman of Sinovac's compensation committee, and a member of its audit committee and nominating and corporate governance committee. Mr. Mei's appointment enables Sinovac to comply with NASDAQ Listing Rule 5605 requirement that its audit committee consist of at least three independent directors.
Mr. Mei founded TusPark, a science park established by Tsinghua University in 1994, to incubate high growth companies. He has been the Director of the science park's Development Center since inception. Mr. Mei is the Chairman of TusPark Co., Ltd., which is engaged in the development, construction, and management of TusPark and is providing services to enterprises based in TusPark. TusPark is also involved in venture capital investments in China. Mr. Mei sits on the judging expert panel of China's National Science & Technology Award. He has developed courses on entrepreneurship and new venture formation as a Tsinghua University professor and an entrepreneur. Mr. Mei holds a bachelor's degree in Automation from Tsinghua University.
"The Board is honored to welcome Mr. Mei as an independent director of the Company," stated Dr. Weidong Yin, Chairman and CEO. "His wealth of experience in general business management and investment as well as his access to a network of local resources among businesses and governments will be invaluable to the strategic growth of Sinovac and we believe that he will make significant contributions to the Company."