HONG KONG, Sept. 29, 2013 /PRNewswire-FirstCall/ -- China Cord Blood Corporation (NYSE:CO) ("CCBC"or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, today announced that Mr. Jeremy Yee has resigned as an Independent Non-executive Director of the Company and member of the Compensation Committee, effective immediately.
The Company understands that, as the CEO of Cordlife Group Limited ("Cordlife"), Mr. Yee's resignation was driven by his need to fully concentrate on Cordlife's business development and overseas expansion. Upon the effectiveness of Mr. Yee's resignation, the Board of China Cord Blood Corporation will consist of seven directors, including four independent directors. The Company does not plan on filling Mr. Yee's board seat.
"On behalf of our Board, I would like to thank Mr. Yee for his contributions during his tenure on our Board, and we wish him continued success in his endeavors," commented Mr. Yuen Kam, Chairman of CCBC. "Cordlife has been and continues to be our important strategic partner. The two companies remain supportive of each other in jointly building a comprehensive Pan-Asia platform for cord blood banking services."
About China Cord Blood CorporationChina Cord Blood Corporation is the first and largest umbilical cord blood banking operator in China in terms of geographical coverage and is the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services. For more information, please visit the Company's website at http://www.chinacordbloodcorp.com. Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or the Company's future financial performance. The Company has attempted to identify forward-looking statements by terminology including "anticipates", "believes", "expects", "can", "continue", "could", "estimates", "intends", "may", "plans", "potential", "predict", "should" or "will" or the negative of these terms or other comparable terminology. These statements are only predictions, uncertainties and other factors may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. The information in this press release is not intended to project future performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company does not guarantee future results, levels of activity, performance or achievements. The Company expectations are as of the date this press release, and the Company does not intend to update any of the forward-looking statements after the date this press release to confirm these statements to actual results, unless required by law.