HONG KONG, March 31, 2017 /PRNewswire/ -- China Cord Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services, today announced that Ms. Yue Deng, Chief Executive Officer of the Company's Beijing subsidiary, has resigned from the Company, effective April 1, 2017. Ms. Deng's departure is for personal reasons and does not reflect any disagreements between Ms. Deng and the Company. The Board of Directors has named Ms. Ting Zheng, Chief Executive Officer of CCBC, to serve as interim Chief Executive Officer of the Beijing subsidiary upon Ms. Deng's departure.
"We are grateful to Deng Yue for her valuable contribution to the Company over the past twelve years. During her service to CCBC, she has shown great leadership with the management of our Beijing subsidiary and has laid a solid foundation for the ongoing growth of our Beijing market. We wish her well in her future endeavors," said Ms. Ting Zheng, Chief Executive Officer of CCBC. "I am pleased to work more closely with the talented operations team in Beijing as we continue the CEO search for this subsidiary. Leveraging our well-established platform in Beijing, our plan is to further expand our target audience, enabling more individuals to benefit from our premium umbilical cord blood banking services."
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest umbilical cord blood banking operator in China in terms of geographical coverage and the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and no new licenses will be granted before 2020 in addition to the seven licenses authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services. For more information, please visit our website at http://www.chinacordbloodcorp.com.
For more information, please contact:
China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Tel: (+86) 10-6583-7511
U.S. Tel: (646) 405-5185
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-cord-blood-corporation-announces-executive-change-300432462.html
SOURCE China Cord Blood Corporation