MY Announces Board of Directors' Committee Changes and New Senior Management
ZHONGSHAN, China, Feb. 4, 2013
ZHONGSHAN, China, Feb. 4, 2013 /PRNewswire/ --China Ming Yang Wind Power
Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind
turbine manufacturer in China, announced today that Mr. Stephen Markscheid, a
current member of the Company's audit committee, has been appointed as
chairman of the audit committee. He succeeds Mr. Ted Lee who will remain an
independent director of the Company and a member of the audit committee, a
position he has served since October 2010. Mr. Lee resigned as chairman of the
audit committee for personal reasons to allow him more time to pursue other
interests. The board of directors of Ming Yang has also appointed Mr. Xueyong
Zhao as president of the Company in charge of research and development,
manufacturing operations, overseas market development and human resources
management. All committee and management changes are with immediate effect.
Mr. Markscheid has been an independent director of the Company since June 2011
and is a seasoned professional in the financial services industries in the
U.S. and China. He has also been the chief executive officer of Synergenz
BioScience Inc. since 2007, a board member of CNinsure, Inc. since 2007 and a
board member of Jinko Solar, Inc. since 2009. Mr. Markscheid also serves on
the board of trustees of Princeton-in-Asia.
Mr. Zhao has over ten years of experience in the research and development of
wind power generator technologies. Prior to joining Ming Yang, he served as
the director of product development and technology in China at Bosch Rexroth
AG from 2008 to 2012, primarily in charge of developing market strategies and
overseeing the operations of the wind power business unit in China. From 2004
to 2007, he was the deputy director of research and development at Eickhoff
GmbH, specializing in wind turbine drive systems and was involved in the
research and development projects of various wind turbine drive systems. Mr.
Zhao obtained his bachelor's degree in engineering mechanics and a master's
degree in hydraulic structure engineering from Tianjin University in China. He
also had a Ph.D degree from Chemnitz University of Technology in Germany,
specializing in wind turbine power generation.
Commenting on the changes, Mr. Chuanwei Zhang, chairman and chief executive
officer of Ming Yang, said, "On behalf of the board of directors, we would
like to thank Mr. Lee for the valuable contribution he has made as chairman of
the audit committee, in terms of providing his expertise in financial
management and helping us to improve the corporate governance of the Company."
Mr. Zhang stated, "With his expertise and experience in U.S. and China, we are
pleased to have Mr. Markscheid chair the audit committee, and we are confident
that he will further assist Ming Yang to fulfill its ongoing commitment to
solid corporate governance."
Mr. Zhang continued, "We also welcome Mr. Zhao to Ming Yang, which we believe
further reinforces the strength of our management team. Mr. Zhao's strong
academic background and industrial expertise in both the global and China's
wind power industry, particularly in research and development, is expected to
significantly advance Ming Yang's cutting edge capabilities in total wind
power solutions and further facilitate our global business growth plans."
About China Ming Yang Wind Power Group Limited
China Ming Yang Wind Power Group Limited (NYSE: MY) is a leading and
fast-growing wind turbine manufacturer in China, focusing on designing,
manufacturing, selling and servicing megawatt-class wind turbines. Ming Yang
produces advanced, highly adaptable wind turbines with high energy output and
provides customers with comprehensive post-sales services. Ming Yang
cooperates with aerodyne Energiesysteme, one of the world's leading wind
turbine design firms based in Germany, to co-develop wind turbines. In terms
of newly installed capacity, Ming Yang was a top 10 wind turbine manufacturer
worldwide and the largest non-state owned wind turbine manufacturer in China
For further information, please visit the Company's website: ir.mywind.com.cn
For investor and media inquiries, please contact:
Investor and Media Contacts:
China Ming Yang Wind Power Group Limited
SOURCE China Ming Yang Wind Power Group Limited
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