SINGAPORE - BitFuFu Inc. (NASDAQ: FUFU), a prominent cloud-mining service provider in the digital asset mining sector, has undergone a significant change in its board composition. The company confirmed on Monday that Mr. Yang Zhao has stepped down from his position on the board effective August 3, 2024. Zhao’s departure is not due to any disagreements with the company's operations, policies, or practices.
In the wake of Zhao's resignation, BitFuFu has appointed Mr. Huaiyu Liu as an independent director. Liu will also serve as the chairman and a member of the audit committee, a member of the nominating and corporate governance committee, and a member of the compensation committee of the board. Liu brings extensive experience to BitFuFu, with over 25 years in finance and management and current roles at YNBY International Limited and Kafelaku Coffee Holding Limited, both listed on the Hong Kong Stock Exchange. His educational background includes an MBA from Cornell University and a bachelor's degree in economics from Shenzhen University. Liu is a member of both the Hong Kong Institute of Certified Public Accountants and the Institute of Chartered Accountants in England and Wales.
Additionally, Mr. Joshua Kewei Cui has been appointed as an independent director and a member of the audit committee, effective from August 3, 2024. Cui's career includes co-founding SOCC Capital Consultancy Pte Ltd and holding the role of chief financial officer at Ohmyhome Ltd. His qualifications include a bachelor's degree in applied accounting from Oxford Brookes University and membership in the Institute of Singapore Chartered Accountants.
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