Beijing-based Orsus Xelent Technologies announced that five independent directors have been elected to the Board of Directors to help execute good corporate governance.
Those new directors are Howard S. Barth, Nathaniel K. Hsieh, Naizhong Che, Zhixiang Zhang, and Peng Wang.
These new independent directors join Liu Yu, age 41, Chairman of the Board and a director of the Company since 2003, and Wang Xin, age 38, director, founder, President and CEO of Orsus Xelent.
In addition to the election of the independent directors, the Board also revised its By-Laws and adopted a Code of Business Conduct and Ethics. Further, it adopted the charters of and appointed members to the Audit, Compensation and Nominating and Corporate Governance Committees. Committee membership and copies of the documents adopted by the Board are available in the Form 8-K filed with the SEC.
"As Orsus continues to grow its business, the role of the Board of Directors becomes more important. Today's announcement is further evidence of our commitment to our shareholders to conduct our business according to the highest standards," commented Liu Yu, Board chairman. "We are pleased that these independent directors have agreed to join our Board of Directors, and believe that their wide range of expertise will be a valuable asset for Orsus Xelent."
Headquartered in Beijing, Orsus Xelent Technologies is an emerging designer and manufacturer of mobile phones for the Asian market, primarily China. The company's business encompasses the design of mobile phones, related digital circuits, and software development. It maintains more than 179 service call centers across China, with additional offices in New York, Shanghai, Hong Kong, Shenzhen, and Tianjin.
