LJ International Inc one of the fastest-growing jewelry companies in the world, and, through its ENZO brand, the largest foreign jewelry retailer in China announced that it has appointed Hong Kong-based executive Frank Chi Fai Cheung as an independent director, replacing Po Yee Elsa Yue, who resigned for personal reasons.
Ms. Yue confirmed that she had no disagreement with the Board in relation to her resignation. The Board appointed Mr. Cheung and accepted the resignation of Ms. Yue with effect as of June 1, 2007.
Cheung, 44, has over 20 years of experience in accounting, finance and administration and has held senior positions in various multinational companies.
He currently is chief financial officer and an executive director of Sun Innovations Holdings Ltd, a Hong Kong Stock Exchange-listed company engaged in property investment and in providing value-added media and entertainment products to mobile phone users.
He holds an MBA from University of Technology, Sydney, Australia, and is an associate member of the Hong Kong Institute of Certified Public Accountants as well as fellow member of the Association of Chartered Certified Accountants.
From 2001 to 2003, Cheung was a director of e-Lux (Hong Kong) Ltd, a subsidiary of e-Lux Corporation, in charge of value-added telecommunications in Hong Kong, Taiwan and the People's Republic of China.
Yu Chuan Yih, LJI Chairman and CEO commented, “We are pleased to have someone of Mr. Cheung's experience and accomplishments on the LJI Board. In his new capacity of outside director, Mr. Cheung will be particularly valued for his extensive knowledge of accounting and financial management."
"His expertise will be of great help to LJI as the Company continues its rapid retail expansion and deals with increasingly stringent accounting regulations in the U.S. and elsewhere.”
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