FUQING CITY, China, Jan. 14 /Xinhua-PRNewswire-FirstCall/ -- China Clean Energy Inc. (OTC Bulletin Board: CCGY) (“China Clean Energy”, “the Company”), a leading producer of biodiesel fuel and environmentally-friendly specialty chemical products made from renewable resources in The People’s Republic of China (“PRC”), today announced that on January 9, 2008, the Board of Directors of the Company voted to expand its size by six members, from three to nine, and to appoint Gary Zhao, the Company’s Chief Financial Officer, to fill one of the resulting vacancies.
"We are delighted to have Gary Zhao join our Board of Directors. His extensive experience in working with public companies in both the U.S. and China will help us enhance our existing corporate governance, and will make a valuable contribution to our business,” said Mr. Tai-ming Ou, China Clean Energy’s Chairman and Chief Executive Officer.
Mr. Zhao has been China Clean Energy’s Chief Financial Officer since November of 2006, and has been responsible for the overall financial planning and control, China and U.S. GAAP compliant financial reporting, SEC filings and corporate finance. Prior to joining the Company, he served as Vice President and Director in charge of Finance Performance Management and Corporate Strategy at CapGemini (China) and Accenture (China) where he provided financial management, Sarbanes-Oxley compliance and corporate strategy consulting services to top-tier public companies in China. Prior to that, he held the VP of Finance position at Sohu.com Inc. where he helped execute their successful initial public offering. At Sohu.com, Mr. Zhao worked extensively with the company’s auditors, investment bankers, attorneys, board members, investors, and government regulators in preparing SEC filings and road show presentations. Other experience includes serving as a financial controller at Motorola China Network Solutions and various management positions at GE Capital, AT Kearney, and General Motors Corporation in the U.S.
About China Clean Energy:
China Clean Energy, through its wholly-owned subsidiary, Fujian Zhongde Technology Co., Ltd., is engaged in the development, manufacturing, and distribution of biodiesel fuel and specialty chemical products made from renewable resources. Since its inception, the Company has been engaged in the manufacture of high-quality specialty chemical products from renewable resources. Through its research and development efforts, the Company developed a proprietary process for refining biodiesel fuel from waste grease and certain vegetable oils. Using this proprietary process, China Clean Energy began producing biodiesel in 2005 and commenced selling biodiesel commercially starting in December 2005.
