China Commercial Credit, Inc. (NASDAQ:CCCR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Resignation of John Levy
On December 19, 2016, Mr. John Levy notified China Commercial
Credit, Inc. (the Company) of his resignation from the board of
directors of the Company effective immediately.Mr. Levys decision
to resign did not result from any disagreement with the Company
on any matter relating to the Companys operations, policies or
practices.
Appointment of Teck Chuan Yeo
On the same day, the Board appointed Mr. Teck Chuan Yeo to serve
as the chairman of the Boards Audit Committees, effective
immediately and Mr. Yeo will no longer serve as the chairman of
the Boards Nominating and Corporate Governance Committee.
Appointment of Boling Liu
On December 22, 2016, the Board appointed Ms. Boling Liu to fill
the vacancy created by the resignation of Mr. John Levy,
effective immediately. In addition to serving on the Board, Ms.
Liu will serve on the Boards Audit, Nominating and Corporate
Governance and Compensation committees. Ms. Liu will also serve
as the chairwoman of the Boards Nominating and Corporate
Governance Committee.
The biographical information of Ms. Liu is set forth below.
Ms. Liu, age 30, has been the vice president of Shenzhen Tianhe
E-Commerce Limited Company since August 2010. From January 2010
to August 2010, Ms. Liu served as a manager of the sales
department of Shenzhen Guantian Aeronautics. From April 2005 to
January 2010, Ms. Liu served as the manager of customer service
of Shanxi Datang Air Service Limited Company. Ms. Liu obtained a
bachelor degree of Shanxi Normal University, computer information
college.
Ms. Liu does not have any family relationship with any director
or executive officer of the Company and has not been involved in
any transaction with the Company during the past two years that
would require disclosure under Item 404(a) of Regulation S-K.
Ms. Liu has entered into an independent director agreement (the
Offer Letter) with the Company, which sets her annual
compensation at $20,000 per year and establishes other terms and
conditions governing her service on the Companys Board. The Offer
Letter is qualified in its entirety by reference to the complete
text of the agreement, which is filed hereto as Exhibits 10.1.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 |
Director Offer Letter, dated December 22, 2016 by and between the Company and Boling Liu. |
About China Commercial Credit, Inc. (NASDAQ:CCCR)
China Commercial Credit, Inc. is engaged in offering financial services in China. The Company’s operations consist of providing direct loans, loan guarantees and financial leasing services to small-to-medium sized businesses (SMEs), farmers and individuals in the city of Wujiang, Jiangsu Province. Its loan and loan guarantee business is conducted through Wujiang Luxiang Rural Microcredit Co., Ltd. Its financial leasing business is conducted through Pride Financial Leasing (Suzhou) Co. Ltd (PFL). It has over three business lines including, lending, guarantee and financial leasing. For its lending and guarantee services, it provides direct loans and guarantee services, to borrowers located within City of Wujiang, Jiangsu Province of China. In its direct loan business, it provides short-term loans to the borrowers and generates interest income. In its guarantee business, it acts as a guarantor to borrowers applying for short-term direct loans with other lenders and generates fee income. China Commercial Credit, Inc. (NASDAQ:CCCR) Recent Trading Information
China Commercial Credit, Inc. (NASDAQ:CCCR) closed its last trading session down -0.03 at 1.15 with 71,583 shares trading hands.
