China Yongda Automobiles Services Holdings Limited announced that at a board meeting held on 23 March 2015, Mr. Cai Yingjie has been re-designated from President to Chief Executive Officer of the company with effect from 23 March 2015. After the re-designation, Mr. Cai becomes the Vice-chairman, Chief Executive Officer and an executive director of the company.
Mr. Wang Zhigao has been re-designated from a non-executive director to an executive director of the company with effect from 23 March 2015. After the re-designation, Mr. Wang becomes the Vice-chairman, an executive director and a member of the remuneration committee of the company. Mr. Xu Yue has been appointed as an executive director and President of the company and Ms. Chen Yi has been appointed as an executive director of the company, both with effect from 23 March 2015. Mr. Xu was the deputy general manager of Yongda CLS and the general manager of Shanghai Baozen Automobile Sales and Services Co. Ltd. Ms. Chen Yi, age 42, was appointed as the vice president and the general manager of the financial innovation department of the Company in March 2014 and is responsible for the financial innovation, capital management and finance leasing business of the Group. Ms. Chen has over 18 years of experience in banking and financing industry. Following the re-designation of Mr. Wang as an executive director of the company, the Board also announced that at the same board meeting held on 23 March 2015, Mr. Wang has stepped down from his position as a member of the audit and compliance committee of the company and Mr. CHEN Xianglin, an independent non-executive director of the Company, has been appointed as a member of the audit and compliance committee of the Company with effect from 23 March 2015.