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Vipshop Appoints Sohu Executive to Board of Directors

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Vipshop's (NYSE: VIPS  ) has appointed Chun Liu to the Board of Directors. As an independent director, Liu will replace Xing Peng, a non-independent director, who voluntarily resigned from the Board of Directors today. Liu will also replace director Frank Lin as a member of the Audit Committee of the Board.

Liu has more than a decade of experience in the media industry. Currently, Liu is the vice president and managing director of and chief operating officer of Sohu Video. Before joining Sohu, Liu worked at Phoenix TV from 2000 to 2011. During his time there, he has worked in the Youth Division and News Commentary Department in CCT, China's state television broadcaster. His last role was as Executive Director and head of Phoenix TV Beijing Program Center. Mr. Chun Liu holds an EMBA degree from Cheung Kong Graduate School of Business in China, and a Master's degree from the Communication University of China.

In the press release, Vipshop Shairman and CEO Eric Ya Shen said:

We are delighted to enhance and expand our Board with the appointment of Mr. Liu. The appointment of Mr. Liu as independent director reflects our ongoing commitment to strengthening our corporate governance practice. We also wish to express our sincere gratitude to Mr. Xing Peng for his service to Vipshop as our director and wish him continued success in his future endeavors.

In addition to today's announcement, the board has made existing directors Kathleen Chien, Frank Lin, Xing Liu, and Nanyan Zheng independent directors. The board is now a majority independent board, as well as a fully independent audit, compensation, corporate governance, and nominating committee. 

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10/21/2016 4:05 PM
VIPS $13.59 Down -0.25 -1.81%
Vipshop Holdings CAPS Rating: ***