ZK International Group Co., Ltd. Announces Board Changes
April 05, 2021 at 05:22 pm EDT
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On March 31, 2021, Min Ni, an independent director of ZK International Group Co., Ltd. (the “Company”), tendered his notice of resignation to the Company, effective on March 31, 2021 due to personal reason. Mr. Ni’s resignation was not the result of any disagreement with the Company with respect to its operations, polices or practices. On April 1, 2021, the Board of directors, the Nomination Committee, and the Compensation Committee of ZK International Group Co., Ltd. approved and confirmed the appointment of Xuejie Lyu as a Director of the Company, with an annual compensation of $15,200, effective April 1, 2021 until the Company’s next annual meeting of shareholders and until her successor is duly elected and qualified, or until her earlier death, resignation or removal. Ms. Lyu will be serving on the Board of Directors as a non-employee, independent director. Ms. Lyu has been the General Manager of Shanghai Liling, since 2020, where she provides financial services to both private and public companies, and assists companies going public to improve internal control and compliances to meet regulatory requirements. Prior to her current position, she worked as manager at Investment Banking Department of Shenwan Hongyuan Securites Co., Ltd. from 2016 to 2020 and senior auditor at Deloitte China from 2013 to 2016, where she focused on financial auditing, internal control assessment, and financial consulting.
ZK International Group Co Ltd is a China-based company principally engaged in the design and production of pipes and fittings, such as double-press thin-walled stainless steel tubes and fittings, carbon steel tubes and fittings and single-press tubes and fittings. The Company mainly operates its business through its subsidiary Zhejiang Zhengkang Industrial Co., Ltd. The Companyâs products include steel strip, light gauge stainless steel pipe (LGSSP), pipe connections and fittings, fittings to change a pipe's direction, pipe fittings to connect two or more pipes, pipe fittings to change pipe size and pipe fitting tools. The Companyâs products are used in a range of applications, including water and gas transmission within urban infrastructural development, residential housing development, oil and gas exploitation, and agricultural irrigation. The Company's products are primarily sold in China, and also exported and distributed in Europe, Africa and Southeast Asia.