Mmtec, Inc. Announces Board Changes
June 02, 2020 at 04:34 pm EDT
Effective as of June 1, 2020, Yiqing Zhang resigned as a Board member of MMTec, Inc. effective immediately to pursue employment with (PRC) government, and Shuguo Li resigned as a Board member effective immediately to attend to his severe illness/personal health matters. Neither departure is for cause or any disagreement with the Company, its Board or management. Effective as of the same date, the Board appointed Yong Ma and Shufang Lai to fill vacancies resulting from the above-referenced departures. From January 2019 to present, Yong Ma is the Chief Executive Officer of Caishang Education Technology (Beijing) Co. Ltd. From January 2008 to December 2018, Yong Ma held the position of Chief Operating Officer of China Finance Online Co. Ltd. From December 2006 to January 2008, Yong was Tax Consulting Manager at PricewaterhouseCoopers Consulting. From July 2016 to present, Shufang Lai holds the title of Assistant Professor of Finance at Southern University of Science and Technology (PRC). Following the foregoing changes, the Company’s Board includes seven members, four of whom (Qingshun Meng, Yong Ma, Shufang Lai and Dongqiang Wang) are “independent” within the meaning of the NASDAQ rules. The Board’s standing committees are as follows: The Audit Committee: Shufang Lai (Chair and the Audit Committee financial expert), Qingshun Meng and Yong Ma; The Compensation Committee: Yong Ma (Chair), Shufang Lai and Qingshun Meng; and The Nominating Committee: Qingshun Meng (Chair), Yong Ma and Shufang Lai.
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