HONG KONG, Nov. 11, 2019 /PRNewswire/ -- Global Cord Blood Corporation (CO) ("GCBC" or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services, today announced the appointment of a new independent non-executive director to the Board of Directors of the Company (the "Board").
In order to further strengthen GCBC's Board composition and the Company's leadership position in China's evolving cord blood banking industry, the Board is delighted to announce that Mr. Jack Chow will join the Board as a class B independent non-executive director, effective immediately. Mr. Jack Chow will replace Mr. Mark Chen as a member of the Company's Audit Committee and Ms. Jennifer Weng as a member of the Company's Special Committee; he will also join the Board's Compensation and Nominating and Corporate Governance Committees.
Mr. Chow currently serves as a partner of the VMS Group and is responsible for the strategic direction and development of VMS Private Equity. Prior to joining VMS Group, Mr. Chow was an audit partner at KPMG with extensive experience in raising funds for clients in Hong Kong and overseas stock exchanges, and advising clients on group restructuring and M&A arrangements. Mr. Chow is a former member of the Listing Committee of the HKEX. He was also the Chairman of Mainland Development Strategies Advisory Panel of the Hong Kong Institute of Certified Public Accountants and Council Member of Hong Kong Institute of Chartered Secretaries.
"We are very delighted and excited to welcome Mr. Chow to join the team," said Ms. Ting Zheng, Chairperson and Chief Executive Officer of GCBC. "We believe that with his extensive professional experience and broad network in the finance and investment industry, Mr. Chow will be an invaluable addition to the Board and bring new perspectives and additional resources to advance the Company in the future."
About Global Cord Blood Corporation
Global Cord Blood Corporation is the first and largest umbilical cord blood banking operator in China in terms of geographical coverage and the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and no new licenses will be granted before 2020 in addition to the seven licenses authorized as of today. Global Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services. For more information, please visit our website at http://www.globalcordbloodcorp.com.