XI'AN, China, April 29, 2011 /PRNewswire-Asia/ -- China Integrated Energy, Inc. (Nasdaq: CBEH) (the "Company"), a leading non-state-owned integrated energy company in the People's Republic of China, today announced the appointment of Mr. Steven Markscheid to its board as an independent director and as Chairman of the Audit Committee. Mr. Markscheid, 57, has been an independent director of CNinsure, Inc. (Nasdaq: CISG) since August 2007, of JinkoSolar Holding Co., Ltd (NYSE: JKS) since September 2009, and of China Energy Corporation (OTC BB: CHGY.OB) since June, 2010. He also has been chief executive officer of Synergenz BioScience Inc. since 2007, and a member of Emerald Hill Capital Partners' investment committee since 2006. Mr. Markscheid was previously representative of US China Business Council from 1978 to 1983, vice president of Chase Manhattan Bank from 1984 to 1988, vice president of First Chicago Bank from 1988 to 1993, case leader of Boston Consulting Group from 1994 to 1997, director of business development of GE Capital ( Asia Pacific) from 1998 to 2001, director of business development of GE Capital from 2001 to 2002, senior vice president of GE Healthcare Financial Services from 2003 to 2006, chief executive officer of HuaMei Capital Company, Inc. from 2006 to 2007. He received his bachelor's degree in East Asian studies from Princeton University in 1976, his master's degree in international affairs and economics from Johns Hopkins University in 1980 and an MBA degree from Columbia University in 1991. Mr. Gao Xincheng, Chief Executive Officer of China Integrated Energy, Inc., commented, "We welcome the valuable addition of Steve to our Board of Directors. We expect that Steve's extensive experience with Chinese public-traded companies and his key financial industry connections will provide us with valuable capital market insights."
Shares of China Integrated Energy (Nasdaq:CBEH) have taken a tremendous swing upward. The stock is trading at $1.05 as of 10:44 a.m. ET, 20.7% above Tuesday's closing price of 87 cents. Volume is at 200,796, 0.2 times the daily average of one million.
Shares of China Integrated Energy (Nasdaq:CBEH) have taken a tremendous swing upward. The stock is trading at 83 cents as of 12:46 p.m. ET, 20.3% above Friday's closing price of 69 cents. Volume is at 237,024, 0.2 times the daily average of one million.
Shares of China Integrated Energy (Nasdaq:CBEH) were gapping down Tuesday morning with an open price 10.7% lower than Monday's closing price. The stock closed at 75 cents yesterday and opened today's trading at 67 cents.