Cathay Forest Announces Appointment of Chairman of the Board and Management Changes
2011年8月6日 - 12:49AM
Marketwired
Cathay Forest Products Corp. ("Cathay Forest" or the "Company")
(TSX VENTURE: CFZ) announces, effective immediately, the
appointment of a Chairman of the Board of Directors and the
following changes to its management team.
Cathay Forest is pleased to announce that Dr. Thomas Chan has
been appointed as the Chairman of the Board of Directors. Dr. Chan
has been a Director of the Company since April, 2011. Dr. Chan is
Director, Public Policy Research Institute and Head of the China
Business Centre of the Hong Kong Polytechnic University. Dr. Chan
also serves as advisor to several government organizations within
mainland China and abroad.
Cathay Forest is also pleased to announce that Mr. Charles Kwan
has been named Chief Operating Officer. Mr. Kwan has been the
Company's General Manager since October 2010 and is based in
Shanghai, PRC. In addition to its duties as Chief Operating
Officer, Mr. Kwan will continue to be responsible for the
day-to-day management of the Shanghai office and the Company's
partners in China, including overseeing all contractual
arrangements in the PRC provinces where the Company has
operations.
The Company also reports that Mr. John Duncanson is stepping
down from the management team. Mr. Duncanson has served as Interim
Chief Executive Officer of Cathay Forest since August 15, 2010 and
as its Chief Operating Officer since June 15, 2010. Mr. Duncanson
will remain as a Director of the Company and will act as a
consultant to the Company.
Cathay Forest will consider appointing a permanent Chief
Executive Officer at a later date.
About Cathay Forest Products
Cathay Forest is a forest products company that manages
approximately 1,000,000 hectares of standing timber properties and
fast-growth, high-yield poplar plantations in China and Russia.
Forward-Looking Statements
All statements, other than statements of historical fact, in
this news release are forward-looking statements that involve
various risks and uncertainties, including, without limitation,
statements regarding the future plans and objectives of Cathay
Forest. Actual results and future events could differ materially
from those anticipated in such statements. Except as required under
applicable securities laws, Cathay Forest assumes no obligation to
update forward-looking statements should circumstances or
management's estimates or opinions change.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Cathay Forest Products Corp. Luc Perron, CA Chief
Financial Officer (416) 226-7269 luc.perron@cathayforest.com
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