– UK / HONG KONG – Fortune Oil (LSE: FTO.LN) announces the changes to its Board of Directors with immediate effect as follows:
- Mr ZHI Yulin has today resigned from the Board after serving as a Non-executive Director since 30 November 2000.
- Mr YUAN Jun will join the Board as a Non-Executive Director with effect from 9 June 2014.
Mr YUAN is currently Executive Deputy General Manager at Zhenhua Oil Company Limited, a subsidiary company of North China Industries Corporation. Zhenhua is one of the six Corporate Coordinators of resource development abroad designed by China’s National Development and Reform Commission (NDRC). Mr YUAN’s responsibilities in Zhenhua since 2011 included corporate strategy, corporate operation and investment management and recently moved to trading business and human resource.
Prior to formally joining Zhenhua in 2014, he worked in NORINCO and held a number of senior roles between 1996 and 2014.
Mr QIAN Benyuan, Non-executive Chairman, said: “The Company wishes to thank Mr ZHI Yulin for his contribution over the last 13.5 years and we wish him continuing success in his future endeavours. I am delighted that Mr YUAN is joining the Board. He will bring in additional perspective, useful experience and insight.”
About YUAN Jun
Mr YUAN Jun, aged 43, was born in China and he is qualified as a Senior Economist.
He holds two bachelor degrees respectively on engineering and economics. After graduation from Beijing Institute of Technology majoring in Photo-Electronics and Nanjing University of Science and Technology majoring in International Trading, Mr YUAN joined briefly China Yanxing General Company as business manager and since January 1996 he had been working in NORINCO, first as business manager in the Gulf Area Department and was promoted to Deputy Director in 2001, subsequently appointed as General Manager of NORINCO Kuwait Liaison Office in 2002 and worked in Kuwait until October 2006. From November 2006 to April 2011 he took the position as Director of Marketing Department of NORINCO in charge of marketing coordination, internal compliance and management of more than 30 overseas offices.
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