On April 12, 2012, China Recycling Energy Corporation announced that each of Robert Chanson and Nicholas Shao notified the Board of Directors of the company, of his respective decision not to stand for re-election to the Board of Directors at the company's 2012 Annual Meeting of Stockholders. Chanson, who has served on the company's Board of Directors since January 20, 2010, will continue to serve as a director until the company's 2012 Annual Meeting of Shareholders, which is expected to be held on May 28, 2012.