The board of directors of Li Ning Company Limited is pleased to announce that Mr. Chu Wah Hui has been appointed as non-executive director of the Company with effect from 1 June 2007.
Mr. Chu Wah Hui, aged 56, is currently a director and an audit committee member of the board of Mettler-Toledo International Inc., a U.S. corporation listed on the New York Stock Exchange. Mr. Chu has been, since April 2007, the non-executive chairman of PepsiCo International's Asia Region. He was the president of PepsiCo International China Beverages Business Unit from March 1998 to March 2007 and concurrently chairman of PepsiCo (China) Investment Company Limited for the period from November 1999 to March 2007.
Prior to joining PepsiCo International in 1998, he held various management positions in several U.S. multinational companies, namely, Quaker Oats, HJ Heinz, Whirlpool and Monsanto. Mr. Chu is a member of Best Buy's China Advisory Board. He obtained his Bachelor of Science degree from the University of Minnesota in the United States.
Mr. Chu has entered into a service agreement with the Company for a term of three years commencing from 1 June 2007. He is subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the Company's articles of association. Mr. Chu is entitled to receive an annual director's fee of HK$200,000 which is determined by the Board upon recommendation of the Remuneration Committee of the Board by reference to the duties and responsibilities of non-executive directors of the Company and the comparative market conditions.
marketing@alchempro.com
