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3SBio says co-founder Xu is retiring from board

Wed, 03/10/2010 - 2:17am
The Associated Press

Chinese biotechnology company 3SBio Inc. said Wednesday that Liping Xu, one of the company's founders, is retiring from its board of directors for health reasons.

3SBio said Xu has been a director of 3SBio and its predecessor, Shenyang Sunshine, since 1993. She is also stepping down as a company vice presdient. Her retirement is effective Wednesday.

She is being replaced by Peiguo Cong, a managing partner of a Beijing law firm since 1994.

Cong will serve as an independent, non-executive director.

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