GUANGZHOU, China, Aug. 28, 2012 (GLOBE NEWSWIRE) -- CNinsure Inc. (Nasdaq:CISG) (the "Company" or "CNinsure"), a leading independent insurance intermediary company operating in China, today announced the resignation of Mr. Shangzhi Wu from the Company's board of directors (the "Board") following the expiration of his tenure and the appointment of Ms. Xiaojun Shang as a member of the Board, effective on August 24, 2012.
Ms. Shang has been an executive director of CDH Investments Management (Hong Kong) Limited, an asset management company based in Hong Kong, since October 2010. Prior to that, Ms. Shang was an executive director of CDH Investment Advisory Private Limited, a private equity fund management company based in Singapore, from 2009 to 2010, a vice president of CDH Investments Management (Hong Kong) Limited from 2007 to 2009 and a vice president of CDH China Management Company Limited from 2003 to 2007. Prior to joining CDH China Management Company Limited in 2003, Ms. Shang was an assistant vice president of GIC Special Investments' Asia Pacific private equity group, focusing on direct investment opportunities in China. From 1997 to 2001, she worked for DBS Land Limited and CapitaLand Residential Limited in business development, strategic planning, asset management and corporate planning areas. Ms. Shang graduated with a Bachelor's degree in Business Administration with first class honors in 1996 from the National University of Singapore.
"Dr. Wu has been on the Board since 2005, offering valuable advice and counsel on our strategic development and corporate governance. The Board highly appreciates his long-term and significant contribution to the Company," said Mr. Yinan Hu, chairman of the Board. "We are pleased to welcome Ms. Shang to the Board. Ms. Shang's extensive investment experience in emerging markets will bring a fresh perspective to the Company's business operations and her counsel will help guide the growth of the Company."
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