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Sino Clean Energy’s Chan to Serve as Interim CFO as Fu Resigns

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Aug. 17 (Bloomberg) -- Sino Clean Energy Inc., a coal-water slurry fuel producer, said Hon Wan Chan will serve as interim chief financial officer following the resignation of Wen Fu.

Chan’s appointment as full-time CFO will be subject to the approval of the board of directors, the company said in a regulatory filing dated Aug 10. Chan served as vice president of finance since February 2010.

Sino Clean Fuel said on Aug. 15 that it received a letter from the Nasdaq Stock Market LLC on Aug. 7 saying the company’s shares would be delisted because of allegations that listing rules had been violated.

“The company strongly disagrees with NASDAQ’s findings and intends to appeal the delisting determination,” the Xi’an, Shaanxi Province-based company said in the statement.

Fu’s resignation wasn’t a result of any disagreements on matters relating to the company’s operations, policies or practices, Sino Clean Energy said in the statement.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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