Larry K Cordell Joins Origin Agritechs Board of Directors
Post on: 2011-11-02 By: admin
Origin Agritech Limited (NASDAQ:SEED) ("Origin” or the "Company”),
a technology-focused supplier of crop seeds and agricultural products in
China, today announced that Mr. Larry Kenneth Cordell, former Chairman
of the Board, President and CEO of UAP Holdings ("UAPH”) was appointed
to Origin’s Board of Directors. Mr. Cordell will replace Mr. Remo Richli
as the Chair of the Audit Committee and an Independent Director to the
Company effective January 1, 2012. Mr. Richli is retiring from the Board
after having completed his two three-year terms.
"Larry has the most extensive business experience in global agriculture.
We are very excited to welcome him to Origin’s Board,” said Dr. Gengchen
Han, Origin’s Chairman, President and CEO. "In addition to his key
industry and capital markets involvements, Larry has been instrumental
in helping maintaining excellent corporate governance and financial
reporting at various companies he represented.”
"I have tremendous respect for Chairman Han and his dedicated team at
Origin. Agriculture will continue to hold strategic importance for
China’s growth. Origin has been at the fore front of improving crop
yields with innovative technologies,” said Cordell. "It is a privilege
to serve on the board of such industry leader.”
Mr. Cordell served as Chairman, President and CEO at UAP Holdings when
the company was acquired by Agrium Inc. through a tender offer in May,
2008. Prior to its acquisition, UAPH was the largest independent
distributor of agricultural inputs and professional non-crop products in
the United States and Canada. Mr. Cordell joined United Agri Products in
2001 and held various executive positions throughout his tenure.
Previous to United Agri Products, he held executive positions at FMC
Agricultural Products, where he last served as its Global Herbicide
Director. Mr. Cordell started his career at Rohm and Haas.
Mr. Cordell is currently a Director of Momentive Performance Material
Holdings, a global leader in specialty chemicals and materials and
serves as a consultant to the private equity investment firm Apollo
Global Management LLC.
Founded in 1997 and headquartered in Beijing, Origin Agritech Limited
(NASDAQ GS: SEED) is China’s leading, vertically integrated agricultural
biotechnology company specializing in research, development and
production to supply food to the growing populations of China. Origin
develops, grows, processes, and markets high-quality, hybrid crop seeds
to farmers throughout China and parts of Southeast Asia via a network of
approximately 3,800 first-level distributors and 65,000 second-level
distributors and retailers, and it possesses a pipeline of genetically
modified seed products including glyphosate resistant corn and Bt Corn.
The first genetically modified corn seed product for China, Phytase
Corn, was approved in November 2009 for which Origin possesses exclusive
rights. For further information, please log on to www.originagritech.com.
Forward Looking Statement
This release contains forward-looking statements. All forward-looking
statements included in this release are based on information available
to us on the date hereof. These statements involve known and unknown
risks, uncertainties and other factors, which may cause our actual
results to differ materially from those implied by the forward-looking
statements. In some cases, you can identify forward-looking statements
by terminology such as "may," "will," "should," "could," "expects,"
"plans," "anticipates," "believes," "estimates," "predicts,"
"potential," "targets," "goals," "projects," "continue," or variations
of such words, similar expressions, or the negative of these terms or
other comparable terminology. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, we cannot
guarantee future results, levels of activity, performance or
achievements. Therefore, actual results may differ materially and
adversely from those expressed in any forward-looking statements.
Neither we nor any other person can assume responsibility for the
accuracy and completeness of forward-looking statements. Important
factors that may cause actual results to differ from expectations
include, but are not limited to, those risk factors discussed in
Origin's filings with the SEC including its annual report on Form 20-F
to be filed. We undertake no obligation to revise or update publicly any
forward-looking statements for any reason.
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