SHANGHAI, China, Dec. 06, 2021 (GLOBE NEWSWIRE) -- ECMOHO Limited (Nasdaq: MOHO) (“ECMOHO” or the “Company”), an integrated solutions provider in the health and wellness market in China, today announced a change in its board of directors (the “Board”).

Mr. Greg Ye tendered to the Board his resignation as an independent director of the Board, the chair and a member of the audit committee of the Board and a member of the Nominating and Corporate Governance Committee of the Board for personal reasons, effective from December 1, 2021. Mr. Greg Ye’s resignation did not result from any disagreement with the Company on any matter relating to the Company’s operations, policies or practice.

The Board appointed Mr. Yuan Fang as an independent director of the Board, the chair and a member of the Audit Committee of the Board and a member of the Nominating and Corporate Governance Committee of the Board, effective from December 1, 2021. Upon the effectiveness of Mr. Greg Ye’s resignation and the appointment of Mr. Yuan Fang, the Board consisted of five directors, including two independent directors. As a foreign private issuer, the Company is permitted to rely on home country practice under the Nasdaq Stock Market Rules with respect to its board and committee composition.

Mr. Yuan Fang has over 10 years of experiences in venture capital investment, operation management and investment banking. Mr. Yuan Fang joined Delta Capital in late 2014 and has been leading Delta Capital’s investments in technology and consumer services areas. Prior to joining Delta Capital, Mr. Yuan Fang worked in Matrix Partners China, WI Harper Group, SK China Holding Co. Ltd., and BNP Paribas. Mr. Yuan Fang also gained valuable experiences from working as a key founding member in start-up companies. Mr. Yuan Fang received a master’s degree from College Des Ingenieurs in Paris, and received an MBA and two bachelor’s degrees from Tsinghua University in Beijing.

Ms. Zoe Wang, Chairwoman and Chief Executive Officer of ECMOHO, commented, “We appreciate Mr. Greg Ye’s contributions and wish him the best in his next endeavor. We welcome Mr. Yuan Fang to our Board. Mr. Yuan Fang is well qualified to serve as an independent director of the Board and possesses substantial experience in venture capital investment, operation management and investment banking. We believe Mr. Yuan Fang’s impressive track record of success in operation management and investment banking can effectively facilitate our operating objectives and targets. We believe ECMOHO is well-positioned to capture the growth potential of the health and wellness market in China, and with Mr. Yuan Fang’s valuable insights and experiences, I am more confident than ever that we will be able to improve operating efficiency and corporate governance, and create value for shareholders in both the short and long term.”