RNS Changes at the Top10 Oct 2012 12:07
The board of directors of LED (the "Board") is pleased to announce revisions to the composition of the Board and a number of key appointments, with immediate effect.
Highlights:
•Appointment of Mr. Hao, Bo as non-executive Director
•Appointment of Mr. Stephen Weatherseed as Non-Executive Chairman
•Resignation of Mr. Thomas Li as Executive Chairman and Executive Director
In order to provide the Company with valuable assistance and guidance as it seeks to develop its energy saving energy management contract ("EMC") business model in China, LED is pleased to announce the appointment of Mr. Hao, Bo to the Board as a non-executive Director.
Mr. Hao has close to 20 years of managerial experience in the energy industry. He is currently the General Manager of Beijing Jike New Energy Technology Development Company, a company commissioned by the Energy Research Institute of the National Development and Reform Commission of PRC and is engaged in new energy development for key national projects in PRC. Mr. Hao's work encompasses a wide range of sectors within the field, including: renewable energy, research and development, quality control, photovoltaics, biomass, wind, solar, and power generation. Prior to joining Beijing Jike New Energy Technology Development Company, Mr. Hao worked in the China Renewable Energy Scale-up Program, a joint development initiative of the Government of China, the World Bank and the Global Environment Facility to promote the implementation of a renewable energy policy in China.
The Board considers that Mr. Hao possesses significant knowledge, experience and contacts in the energy industry and the Company wishes to leverage Mr. Hao¡¦s expertise to capitalise on the market opportunities of its EMC business model in PRC.
At the same time, Mr. Thomas Li has decided to step down as Executive Chairman and Executive Director of the Board to pursue other business opportunities. Mr. Li has been an integral part of the Board and has overseen the successful growth of the Company since its admission to the AIM Market. Mr. Stephen Weatherseed, currently a non-executive Director, has been appointed to the position of Non-Executive Chairman.
Commenting on the latest Board changes, LED's Chief Executive Officer, Stephen Chan said:-
"I would like to thank Thomas for his hard work over the past years and the valuable contribution he has made to LED and I wish him all the best in his future endeavours. Thomas' departure will not disrupt the day-to-day management of LED's operations. Having said so, I would also like to take this opportunity to congratulate Mr. Weatherseed for his contribution to LED and wish him every success in his new capacity.
Finally, I am pleased to welcome Mr. Hao to the Board and I am confident he will be an important addition to the team. Attracting talents like those of Mr. Hao underlines the pr