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China – 51job Inc. regains Nasdaq compliance with appointment

18 March 2013

Chinese HR provider 51job Inc. (JOBS:NSQ) today announced the appointment of Li-Lan Cheng as an independent director and a member of the audit committee, helping the company regain Nasdaq compliance.

Mr Cheng is the chief operating officer of E-House (China) Holdings Limited, a real estate services company. He has worked for companies such as SouFun Holdings Limited and investment banking group of ABN AMRO Asia in the past. A chartered financial analyst, he holds Bachelor’s degree in Economics from Swarthmore College and a Ph.D. in Economics from the Massachusetts Institute of Technology.

"We warmly welcome Li-Lan as a director. His extensive experience and financial background will add significant value to our board,” said Rick Yan, CEO of 51job, Inc.

The company's board of directors now consists of five members, who are mainly independent directors. The audit committee has three members, all of whom are independent directors. As a result, the firm has returned to full compliance with Nasdaq listing requirements.

The firm also announced that David K. Chao, also an independent director, was elected as chairman of the board. He joined the board in 2010.

51job Inc. is listed on the New York stock exchange and provides recruitment related services and human resource services, such as business process outsourcing and executive search.

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