NVC announced on last night that the founder and current CEO of NVC, Changjiang Wu was elected as executive director on shareholders' meeting held on June 21, which means that Changjiang Wu officially return to NVC's board of directors after experiencing ups and downs over the past year.
Now, NVC's Board comprises nine directors, including three executive directors, namely, Changjiang Wu, Yu Mu who is the vice president of NVC and Dongming Wong who is the little brother of NVC's current chairman; three non-executive Directors, namely Heping Lin who is the representative of Asia SAIF Partners, Hai Zhu who is the president of Schneider China and Donglei Wong; three independent non-executive directors, who are Kam Sui Wong, Gangwei Li and Ling Wu.
Among the new Board of NVC, Changjiang Wu, Dongming Wong and Ling Wu with profound background in the LED industry and government are new directors.
At the end of last year, Changjiang Wu transfered a majority stake in NVC to Elec-Tech, so Elec-Tech held more than 20% of the shares in NVC to be a big new shareholder of the NVC. This year, the chairman of Elec-Tech Donglei Wong becomes the new chairman of NVC succeed Yan Yan. Now, the new board members like Donglei Wong, Changjiang Wu, Yu Mu, Dongming Wong and Ling Wu combines together, so that Changjiang Wu returning to the Board of Directors can re-grip dominance.
In the segregation of duties table of NVC's board announced last night, the five people mentioned above don't work in NVC's Audit Committee, Remuneration Committee and Nomination Committee, maybe it is to promote counterbalance.