Chinese infant formula group Synutra International has appointed Ning Cai as its CFO.
Cai, who has 13 years of experience in corporate finance and investment banking, takes over from interim CFO Weiguo Zhang who will remain as group president. She joins Synutra from energy management firm Trina Solar Ltd where she served as director of investment analysis for two years.
She has also held roles with Scotia Capital, the investment banking arm of Bank of Nova Scotia, and Ernst & Young in Shanghai.
Previous CFO Donghao Yang stepped down from the role in August last year to "pursue another professional opportunity". Yang said there had been no disagreements with management and he continues to serve on the company's board.
"We are pleased to have Ms. Cai on board as our new CFO," said chairman and CEO Liang Zhang. "She is distinctly qualified to serve as Synutra's CFO and we are looking forward to leveraging her expertise for both the day-to-day financial operations of the company and long-term strategic planning. We expect her to contribute quickly to the vision and growth of our company."
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QINGDAO, China and ROCKVILLE, Md., Dec. 20, 2012 /PRNewswire/ -- Synutra International, Inc. (SYUT), ("Synutra" or the "Company"), which owns subsidiaries in China that produce, market and sell nutritional products for infants, children and adults, today announced the appointment of Ms. Ning "Clare" Cai as Chief Financial Officer, effective today. Mr. Weiguo Zhang, who served as Interim Chief Financial Officer and President of the Company, will remain as the President of the Company.
Ms. Cai has thirteen years of experience in corporate finance and investment banking. Ms. Cai joins Synutra from Trina Solar Limited, where she served as a director of investment analysis from April 2010 to April 2012 and as the controller of System Group & China region from May 2012 to December 2012. Before that, Ms. Cai worked for nine years at Scotia Capital, the investment banking arm of Bank of Nova Scotia. Ms. Cai worked on the execution team in Scotia Capital's San Francisco office where she held progressive positions as an Associate from 2001 to 2003, an Associate Director from 2003 to 2006 and as a Director from 2006 to 2009, primarily covering the portfolio management and deal execution for the real estate, gaming & leisure, and technology industries.
Ms. Cai started her career with Ernst & Young's Shanghai office where she was a staff accountant in the tax group from 1997 to 1999. Ms. Cai earned a Bachelor in Economics from Shanghai International Studies University and an MBA from University of Iowa Tippie Business School. Ms. Cai holds the Chartered Financial Analyst ("CFA") designation.
Mr. Liang Zhang, Chairman and CEO of Synutra, commented, "We are pleased to have Ms. Cai on board as our new CFO. She is distinctly qualified to serve as Synutra's CFO and we are looking forward to leveraging her expertise for both the day-to-day financial operations of the Company and long-term strategic planning. We expect her to contribute quickly to the vision and growth of our Company."