SHENZHEN, China, Aug. 23, 2011 /PRNewswire-Asia-FirstCall/ -- China Nepstar Chain Drugstore Ltd. (NYSE: NPD) ("Nepstar" or the "Company"), the largest drugstore chain in China based on the number of directly operated stores, today announced the resignation of Mr. Jason Xinghua Wu as the Company's Chief Executive Officer, effective today, for personal reasons. Mr. Fuxiang Zhang, the Company's Chief Operating Officer, has been appointed as Chief Executive Officer by the Company's board of directors.
Mr. Zhang joined the Company in 1997. From 1999 to 2003, he was the vice general manager and then promoted to general manager of Dalian Nepstar Chain Co., Ltd., or Dalian Nepstar. From 2003 to 2006, Mr. Zhang served as the general manager of Shenzhen Nepstar Group Co., Ltd., or Shenzhen Nepstar. Mr. Fuxiang Zhang has been the Company's vice president since 2006. In March 2011, Mr. Fuxiang Zhang was appointed as Chief Operating Officer of the Company. Mr. Zhang received a bachelor's degree in international economics in 1997 and a master's degree in industrial engineering in 2010 from the Harbin Institute of Technology.
Mr. Simin Zhang, Chairman of the Company, commented, "On behalf of the board, we thank Jason for his contribution. We remain confident in the long-term prospects of Nepstar and we look forward to solid development of our business under the leadership of Fuxiang Zhang."
About China Nepstar Chain Drugstore Ltd.
China Nepstar Chain Drugstore Ltd. (NYSE: NPD) is China's largest retail drugstore chain based on the number of directly operated stores. As of June 30, 2011, the Company had 2,511 stores across 74 cities, one headquarter distribution center and 14 regional distribution centers in China. Nepstar uses directly operated stores, centralized procurement and a