The board of directors of CAR Inc. announced the changes of chief executive officer and chief operating officer, the re-designation of director, the appointment of executive director and senior management of the company as follows: Mr. Charles Zhengyao Lu, the chairman, the chief executive officer and an executive director of the company, has resigned from his position as the chief executive officer and been re-designated as a non-executive director of the company with effect from April 11, 2016 due to other work commitment. Mr. Lu will continue to serve as the chairman of the company. In addition, the company has been informed by Mr. Lu that he will be appointed as the chief executive officer of UCAR Inc. with effect from April 11, 2016. Mr. Lu, aged 46, was appointed as the Company's executive director, chief executive officer and chairman of the Board on April 25, 2014. Mr. Lu is currently a member of the Nomination Committee of the Company. He is responsible for the
implementation of board resolutions, making company's strategy plans, making decisions of and supervising the major products and programs, management and
appointment of senior management and fully responsible for the company's development and business. Mr. Lu has been appointed as a chairman of the board of
UCAR Technology Inc. since June 5, 2015. Ms. Yifan Song has been appointed as the chief executive officer and an executive director of the Company with effect from April 11, 2016. In connection with Ms. Song's appointment, she will also assume the roles of directors, legal representatives and managers of some of subsidiaries. Ms. Song, has worked as a vice-president for the Group from September 2007 to August 2013, and was promoted to an executive vice-president since September 2013. She is also a founding member of the Group. Before her Ms. Jenny Zhiya Qian has resigned as the chief operating officer of the Company with effect from April 11, 2016 due to other work commitment. In addition, the Company has been informed by Ms. Qian that she will be appointed as the chief operating officer of UCAR Inc. with effect from April 11, 2016. Mr. Wilson Wei Li has been appointed as the chief operating officer of the company with effect from April 11, 2016. He will be responsible for driving business growth and operational excellence, and in particular, responsible for business operations, yield management, marketing and public relations. Mr. Li will continue to serve as the chief financial officer and an executive vice-president of the company. Mr. Li, aged 38, was appointed as the company's executive vice-president and the chief financial officer on May 15, 2014. He is responsible for matters relating to corporate finance and financial management of the Group, including budgeting, disclosure and reporting and overseeing the financial goals of the Company. Mr. Li has over 16 years of experience in corporate finance, risk management, internal audit, treasury and capital market. From July 2010 to April 2014, Mr. Li worked as the chief financial officer of UniTrust Finance & Leasing Corporation.