NuZee, Inc. (NASDAQ:NUZE), a Nevada-based company engaged in retail and miscellaneous retail services, announced on June 25, 2024, significant updates to its board committee compositions, as per a recent SEC filing. The company, formerly known as Havana Furnishings Inc., disclosed the restructuring of its Audit, Compensation, and Nominating and Corporate Governance Committees.
The reshuffle comes as the company aligns its governance structure with SEC rules and Nasdaq listing standards. The Audit Committee will now consist of Changzheng Ye, Jian Liu, and Yanli Hou, with Changzheng Ye appointed as the chairperson.
Yanli Hou has been identified as an "audit committee financial expert," a requirement defined by the SEC, and possesses the necessary financial sophistication mandated by Nasdaq.
Similarly, the Compensation Committee will be chaired by Jian Liu and include members Changzheng Ye and Yanli Hou. The Nominating and Corporate Governance Committee will also be led by Jian Liu, with Changzheng Ye and Yanli Hou serving alongside.
This reorganization reflects NuZee's commitment to maintaining a robust governance framework and ensuring compliance with regulatory standards. The company's leadership, including Co-Chief Executive Officers Randell Weaver and Jianshuang Wang, who also serves as a Director, have endorsed these changes as part of their ongoing efforts to strengthen the company's management and oversight capabilities.
The announcement of the updated board committee compositions is based on a press release statement and does not include any forward-looking statements or speculative information. NuZee's business address remains at 2865 Scott St. Suite 107, Vista, California, with its principal executive offices located in Richardson, Texas. The company's stock continues to be traded on The Nasdaq Stock Market under the ticker symbol NUZE.
In other recent news, NuZee, Inc. has announced significant changes to its board of directors. Following the departures of J. Chris Jones and David G. Robson, the company has welcomed Jian Liu and Zongmei Huang to its board.
Liu, with a background in design and operations, has contributed to expanding market presence and enhancing company reputation at MBV International Limited. Huang brings experience from senior management roles in Hong Kong and as the CEO of XinRui Technology Co., Limited, specializing in venture capital, private equity, and digital scenarios.
These recent developments do not stem from disagreements with the company's practices or policies, as confirmed by NuZee. The company has yet to determine the specific board committees that the new directors will join.
It is important to note that neither Liu nor Huang has a direct or indirect material interest in any transaction that would necessitate disclosure under SEC regulations. Furthermore, no existing arrangements between the new directors and other persons influenced their appointment.
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