The board of directors of Hong Kong-based company Pou Sheng International, the retail subsidiary of Yue Yuen Industrial, has announced that Lee Shao-Wu has resigned from all of his positions at the company, including those of chairman, executive director, chairman of the disclosure committee, authorized representative of the company and director of certain subsidiaries, effective Sep. 2, 2022, for personal reasons and a desire to spend more time with his family. Lee confirmed that there were no disagreements with the board and that no matter related to his resignation needs to be brought to the attention of the company’s shareholders.
As a result, Yu Huan-Chang was appointed chairman, executive director, chairman of the disclosure committee and authorized representative of the company, effective Sep. 2. Yu has been an executive director since April 2020 and is also the CFO and director of certain subsidiaries of Yue Yuen, the majority shareholder of the company. He has also been the head of the strategy and investment department of Pou Chen Corporation, a majority shareholder of Yue Yuen, since November 2020. Before joining Yue Yuen, Yu was CFO of Castle Snack International from 2015 to 2019. He also served as the head of finance of the beverage division and head of the investment management department of Tingyi Holding Corp. from 2010 to 2015. From 2012 to 2013, Yu was concurrently the chief financial officer and vice president of Pepsi (China) Investment Co. Ltd. From 2004 to 2010, he was the CFO, head of the general administration department and head of the global administration center of Aten International Co., Ltd.
Yu will hold office as an executive director until the next annual general meeting of the company and is subject to re-election in accordance with the company’s articles of association and listing rules. As of the date of this announcement, a service agreement has been entered between the company and Yu as chairman and executive director for three years from Sep. 2, 2022.
