Yingli Green Energy Holding advised of the recent change to its board of directors and committees. Effective September 19, Chi Ping Martin Lau, an independent director and member of the audit and compensation committee for Yingli Solar, resigned from the board and committee to better focus on his duties as President of Tencent Holdings.
In order to fill his position, Richard Xue, CFO for ATMU, has been brought on to serve as both an independent director and member of the audit and compensation committee, as well as sitting on the board. Xue previously served as an advisor for Asia Alternative Management and was a venture partner of Softbank China & India Holdings from 2006 to 2009.
Past engagements have seen Xue work at ChinaCast Education, Target Media and eLong. He was also in the US and China investment banking industry for eight years after completing studies at Tsinghua University in China, earning his BA in physics from the University of Illinois and receiving his MBA from the University of Chicago.
“We are pleased to welcome Mr. Xue onboard. We believe his extensive experience in the financial area will further strengthen our board and corporate governance,” commented Liansheng Miao, chairman and chief executive officer of Yingli Green Energy. “Mr. Lau has provided our Company with valuable insight through his position on our Board of Directors. We are grateful for his contributions to our success over the years and wish him continued success at Tencent.”