CHINA TELETECH HOLDING, INC. (OTCMKTS:CNCT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
(a)Resignation of Secretary and Director, and Appointment of New Secretary
On December 29, 2017, Jane Yu resigned from her position as Secretary and Director of the Board of China Teletech Holding, Inc. (the “Company”), effective immediately. Ms. Yu will continue her services as Chief Finance Officer of the Company.
There was no disagreement between Ms. Yu and the Company on any matter relating to its operations, policies or practices.
On December 29, 2017, the Board of Directors of the Company appointed Pan Pan to be the Secretary of the Board of Directors, effective immediately, to fill the vacancy of the Secretary of the Board due to the departure of Ms. Yu.
Since 2013 to present, Mr. Pan is serving as the Chairman of the Board of Shenyang Curtis Science and Technology Ltd., a private company focusing on technical research and development. From 2013 to present, he was the Director of Liaoning Shixitang Jewelry& Jade Sales Co., Ltd, a company mainly engaged in the sales of jewelry and jade in China. From 2010 to 2013, he was the General Manager of the financial department in China Raybo International Corporation Ltd., a company engaging in mining, infrastructure construction, trading, and finance operations in China and internationally. Mr. Pan obtained his Bachelor of Business Administration from Liaoning University and his Master of International Finance from Hong Kong University School of Professional and Continuing Education.
Mr. Pan 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.
Mr. Pan will not receive any compensation for serving as Secretary and director of the Board of the Company.
(b)Resignation of Director and Officer and Appointment of New Director
On December 29, 2017, Yankuan Li resigned from her positions as President, Chairman of the Board, Director of the Board, and Chief Executive Officer of the Company, effective immediately. There shall be no interim Chief Executive Officer.
There was no disagreement between Ms. Li and the Company on any matter relating to its operations, policies or practices.
On December 29, 2017, the Board of Directors of the Company appointed Lei Chen to the Board of Directors, effective immediately, as a Director and Chairman of the Board of the Company due to the departure of Ms. Li.
From 2016 to present, Mr. Chen is serving as the Chairman of the Board of Liaoning Shixitang Jewelry Sales Ltd., a private company focusing on mining. From 2010 to 2016, he was the Chief Executive Officer of Liaoning Shixitang Jewelry& Jade Sales Co., Ltd. and the General Manager of Beijing Shixitang Jewelry& Jade Sales Co., Ltd., both compaines mainly engaging in the sales of jewelry and jade in China. Mr. Chen obtained his Bachelor of Business Administration from Northeastern University and his Master of Business Administration from Singapore Management University.
Mr. Chen 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.
Mr. Chen will not receive any compensation for serving as a Director and Chairman of the Board of the Company.