YanGuFang appoints interim CEO and CFO amid executive detainment
Investing.com | Editor Natashya Angelica
Published Jan 10, 2024 09:53PM ET
SHANGHAI - YanGuFang International Group Co., Ltd. (NASDAQ:YGF), a health food producer specializing in oat and grain products, has announced the appointment of interim executives following the detainment of its CEO, Mr. Junguo He, and CFO, Mr. Kui Shi, by Shanghai Police. The company has not received official notice regarding the investigation or reasons for the detainment.
Effective January 9, 2024, Mr. Ya Zhang, previously the Chief Operating Officer, has been appointed as the Interim CEO, and Ms. Yang Sui, the Financial Director of a branch company, has been named Interim CFO. Mr. Zhang brings over a decade of business management experience, while Ms. Sui has over 18 years in finance, particularly with listed companies in China.
The interim management team is set to oversee the company's operations under the guidance of the Board. YanGuFang has assured that its business and daily operations continue as usual.
This development comes as YanGuFang, a company committed to improving human health through its oat and whole grain products, navigates an unexpected challenge in its corporate leadership. The company has a portfolio of over 80 products in its natural oat and whole grain series.
Investors are advised that this press release contains forward-looking statements, which involve risks and uncertainties. These statements are not guarantees of future performance. The company encourages investors to review other factors that may affect its future results in the Company’s filings with the SEC.
The information in this article is based on a press release statement from YanGuFang International Group Co., Ltd.
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