VisionChina Media announces changes to board of directors
Louise Duffy ©RapidTVNews | 30-12-2011 VisionChina Media, one of China's largest out-of-home digital television advertising networks on mass transportation systems, has announced changes to its board of directors. Arthur Wong and Daniel Shih have been appointed as independent directors and Xisong Tan's independent director agreement has been renewed. Tan will continue to be an independent director of the Company's board of directors. Wong, Shih and Tan will make up the audit committee of the board of directors and Wong has also been appointed as chairman of the audit committee.
Also, William Decker and Yunli Lou have stepped down from their positions as independent directors following the expiry of their current tenures but both have agreed to act as senior consultants to the company.
Limin Li, chairman and CEO of VisionChina Media, said: "I would like to thank Ms Tan for her continued dedication to VisionChina Media and welcome Mr Wong and Mr Shih to the board as independent directors. The collective extensive experience of these three professionals will undoubtedly bring significant value to the company. At the same time, we are grateful to Mr Decker and Ms Lou for their service to VisionChina Media as independent directors and look forward to their continued contributions in their new roles as senior consultants."
Wong's previous appointments include CFO of GreenTree Inns Hotel Management Group since February 2011. He has also served as an independent non-executive director of Besunyen Holding Company since July 2010. From June 2008 to December 2009, he was CFO of Asia New Energy Holding, and from March 2010 to November 2010, he was CFO of Nobao Renewable Energy Holdings.
Shih has served as deputy chairman and group strategy officer at Stella International Holdings since May 2008. From October 2006 to April 2008, he was chairman of PepsiCo (China) Investment and president of the China region for PepsiCo's Beverages Business Unit, where he was responsible for managing joint-ventures, mergers and acquisitions and day-to-day operations for the unit.