Simcere Pharmaceutical Group Announces Resignation of CFO Frank Zhao
NANJING, China, Jan. 13, 2011 /PRNewswire-Asia/ -- Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR), a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China, today announced the resignation of chief financial officer Mr. Frank Zhao for personal reasons, effective January 15, 2011. Simcere's Board of Directors has appointed Mr. Yushan Wan, Simcere's corporate controller, as acting chief financial officer as of the effective date.
"Frank has been a valuable member of our management team and we wish him all the best in his future endeavors," said Mr. Jinsheng Ren, chairman and chief executive officer of Simcere. "I would like to thank him for making great enhancements to our financial management and internal control systems in the past four years, as well as building strong relationships with the investment community."
Mr. Yushan Wan joined Simcere in 2000 and has been serving as the Company's corporate controller since 2007. Mr. Wan has a bachelor's degree in biochemistry and a master's degree in accounting from Nanjing University and is a Chinese Certified Public Accountant.
Mr. Ren commented, "Yushan has a decade of experience working in Simcere's financial department and was most recently our corporate controller. I am confident that with his support we will have a smooth transition ahead of the appointment of a new CFO."
About Simcere Pharmaceutical GroupSimcere Pharmaceutical Group (NYSE: SCR, Simcere) is a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China. In recent years, Simcere has been focusing its strategy on the development of innovative pharmaceuticals and first-to-market generics. The Company has introduced an innovative anti-ca