- Directors
Yaqing Hu and Hui Zhu have stepped down for personal reasons
- Hongxiang
Yu named chairman of the audit committee
- Yilei
Shao appointed chair of the compensation committee
TMSR Holding Company Limited (NASDAQ: TMSR), a company that
through its subsidiaries develops, produces and sells patented industrial and
mining waste management solutions, has announced changes in the membership of
its board of directors. Two directors, Yaqing Hu and Hui Zhu, have resigned
from their roles on the board due to personal reasons. Their resignations took
effect at the end of August, according to a company news release (http://ibn.fm/5Mr1U).
Stepping in to take their places will be Hongxiang Yu and
Yilei Shao. The board appointed Yu as chairman of the audit committee, while
Shao will serve as the chair of the compensation committee.
Yu has a strong track record of business leadership. He has
served on the board of directors of American Lorain Corporation (NYSE: ALN), a
food manufacturing company, and has held senior management positions with
Hongrun Construction Group Co. Ltd., asset management and private equity
investment firm Shanghai Highlights Asset Management Co. Ltd., and film
investment company Tianjin Dragon Film Limited. Yu was educated at the
University of Portsmouth in the United Kingdom, where he received a bachelor’s
in international trade and a master’s in international human resources
management.
Shao has been nominated to serve on the board of American
Lorain Corporation. She is the founder and chief executive officer of Shanghai
Jianshi Management Consulting Limited and worked for five years in New York as
vice president of Goldman Sachs’ Credit Derivatives Department. Her educational
background is in computer science, with a bachelor’s degree from Shanghai Jiao
Tong University and a doctorate from Princeton University.
Paying tribute to the departing board members, TMSR
Chairwoman Jiazhen Li said, “We’d like to thank Zhu and Hu for their
leadership, guidance and dedication to TMSR while serving as members of the
Board. We are also very delighted that Yu and Shao have agreed to join our
Board and look forward to their expertise and insights in helping further
strengthen our Board.”
TMSR, through its subsidiaries Shengrong Environmental and
Wuhan HOST Coating Materials, is involved in the development, production and
sale of industrial waste management systems and solutions. The company holds
two international U.S. patents and six patents issued by the People’s Republic
of China, including three invention patents and three utility model patents.
Using these technologies, Shengrong Environmental recycles solid waste from a
number of industries in the People’s Republic of China, extracting usable
materials in processes that do not release dangerous chemical discharge.
TMSR’s technology allows the extraction and recycling of
usable material from aluminum slag, red mud manganese tailings, copper mine
tailings and iron mine tailings. In addition to its involvement in industrial
and mining waste processing and recycling, TMSR also trades in iron ore and
operates wine import and resale services.
For more information, visit the company’s website at www.TMSRHolding.com
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