(By Balaseshan) Aoxing Pharmaceutical Co. Inc.(NYSEAMEX:AXN) said it has appointed Guoan Zhang as acting Finance Chief, following the resignation of Bob Yunjun Ai.
The company said Bob Yunjun Ai has resigned as Chief Financial Officer to pursue other business interests, effective as of July 1, 2012.
Aoxing expressed its appreciation for Yunjun Ai's significant contributions to the company and wished him the best in his future endeavors.
Zhang was Senior Vice President of Finance prior to the appointment. He joined the company in 1998 and held various positions in the finance function.
The company also appointed Guirong Zhou as Vice President to lead the R&D function. Zhou has in depth experience in pharmaceutical research and is responsible for the company's new drugs applications.
Zhou is a pharmaceutical expert in research centers, and has worked for Shijiazhuang Pharmaceutical Group as well as other major pharmaceutical companies.
AXN closed Thursday's regular session up 6.35% at $0.30. The stock has been trading between $0.19 and $1.25 for the past 52 weeks.