XI'AN, China, May 2, 2012 /PRNewswire-Asia-FirstCall/ -- SkyPeople Fruit Juice, Inc. (NASDAQ: SPU) ("SkyPeople" or "the Company"), a producer of fruit juice concentrates, fruit beverages and other fruit-related products, today announced that its Board of Directors has approved the appointment of Mr. Xin Ma as the Company's new Chief Financial Officer, effective April 30, 2012, replacing Ms. Cunxia Xie, who resigned from the Chief Financial Officer position for personal reasons, effective April 30, 2012 as well.
"We are pleased to add Mr. Ma to our leadership team. We believe his experience with the U.S. publicly traded Chinese companies is a great fit to our needs," said Mr. Yongke Xue, SkyPeople's CEO. "Mr. Ma brings a very strong skill set and extensive experiences in U.S. GAAP accounting, finance, capital markets, as well as managerial experience. We look forward to Mr. Ma playing an important role in helping us drive sustainable business results and create long-term value for our shareholders."
Mr. Ma, 35, joined SkyPeople in December 2011 and had previously served as the Company's Vice President, Finance, responsible for the financial and accounting management of the Company. From March 2011 to December 2011, Mr. Ma served as the Chief Financial Officer of Universal Solar Technology, Inc., a U.S. reporting company based in China. From January 2006 to March 2011, Mr. Ma served as the Vice President of Kiwa Bio-Tech Products Group Corporation, a U.S. reporting company based in China. Mr. Ma received a MSc. in Management in 2005 and a MSc. in Finance in 2006 from the University of Leicester in England. There is no family relationship between Mr. Ma and any of the Company's directors and officers.
Ms. Cunxia Xie's resignation is not in connection with any disagreement with the Company regarding financial, accounting, or other practices.
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