Biostar Pharmaceuticals has announced a series of measures to strengthen the company's corporate governance in compliance with the listing requirements of a senior US exchange.
The board has appointed two independent directors, Zibing "Zack" Pan and Zhongyang Shang, to the board, effective December 30, 2009. Directors Michael Segal and Xifeng Nie, have resigned.
The board has also appointed Pan and Shang to the audit committee, along with Haipeng Wu, who has been on the board since July 2007. Pan has been named audit committee financial expert and chairman. Shang will serve as chairman of the compensation committee and Wu as chairman of the nominating committees.
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