TAIAN CITY, Shandong, China, Aug. 13 /Xinhua-PRNewswire-FirstCall/ -- China Biologic Products, Inc. (OTC Bulletin Board: CBPO) (''CBP,'' or the ''Company''), one of the leading plasma-based pharmaceutical companies in the People's Republic of China (''PRC''), today announced that, effective August 7, 2008, its Board of Directors has established a Governance and Nominating Committee and a Compensation Committee, and has appointed each of the Company's current independent directors, Dr. Tong Jun Lin, Dr. Jie Gan and Mr. Sean Shao, as members of each committee. Dr. Lin was appointed to serve as Chair of the Governance and Nominating Committee and Dr. Gan was appointed to serve as Chair of the Compensation Committee.
''We are delighted to have all our board committees in place, with each of our independent directors as chairpersons of their respective committees,'' said Mr. Chao Ming Zhao, the Company's CEO. ''The establishment of these new board committees is another step in furtherance of our new corporate governance policy, as we continue to expand our business and pursue our commercial objectives.''
Mr. Sean Shao, independent director and Chairman of CBP's Audit
Committee, has been appointed as a member of the Governance and Nominating
Committee and the Compensation Committee. Mr. Shao brings to CBP over
thirteen years of experience in financial and operational management in
publicly held and private-owned companies. For the past four years Mr. Shao
has served as chief financial officer of Trina Solar Limited, ChinaEdu
Corporation, a Chinese educational service provider, and Watchdata
Technologies Ltd., a Chinese security software company. Prior to this, Mr.
Shao served six years as a senior manager at Deloitte Touche Tohmatsu
Beijing and three years with Deloitte & Touche Toronto. Mr. Shao received
his master's degree in health care administration from the University of
California at Los Angeles in 1988 and his bachelor's degree in art from
|SOURCE China Biologic Products, Inc.|
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