Chinese agri-solutions provider Agria Corp. (GRO) Thursday announced the promotion of Raymond Lo to the position of acting chief financial officer, effective April 1. Lo will succeed Gary Yeung, who is resigning from the post of chief financial officer to pursue other opportunities.
Lo has served as Agria's financial controller since January 2009. According to Alan Lai, Agria's chairman and chief executive officer, Lo has more than 23 years of finance experience. Yeung, who served as chief financial officer since February 2007, will continue to serve as a director of Agria.
Agria also announced the resignation of Juliana Xu, effective March 31, who served as chief technology officer of Agria since May 2007. The company said it does not consider it necessary to make an immediate replacement with another chief technology officer. The company will continue to maintain its core research and development team, while continuing to enhance collaborations with institutional technical partners such as the China National Agricultural Bureau.
GRO closed Wednesday's trading at $1.19, up $0.40, on a volume of 3.80 million shares.
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