China Networks International Holdings Ltd. (OTC Bulletin Board: CNWHF) (“CNIH”) has reported that its Chief Financial Officer, Michael E. Weksel, has tendered his resignation with effect from August 10, 2009 to pursue other business opportunities. Mr. Weksel will continue to serve on the Company’s Board of Directors.
“We thank Michael for his help throughout the merger process and look forward to his continued involvement as a China Networks director,” Li Shuangqing ,Chairman , China Networks International Holdings Ltd said.
Mr. Weksel’s resignation is not the result of any dispute or disagreement with CNIH.
Xin Yan Li, currently the Company’s Financial Controller, will serve as CNIH’s interim Chief Financial Officer with effect from August 10, 2009. Mr. Li served as Financial Controller of China Networks Media, Ltd. from January 2009 until the merger with CNIH, at which time he assumed the role of Financial Controller for the combined entity. From August 2007 to December 2008, he worked at Terex Corporation as an internal auditor.
Prior to that, he was a financial specialist at Holcim North America Business Services from 2005 to 2007, and worked at Arthur Andersen from 1998 to 2001. Mr. Li received a B.A. degree in Economics from Renmin University of China in 1998 and an M.B.A. from McGill University in 2004. Mr. Li holds a Certificate of Certified Public Accountant from State of Delaware and is a Certified Internal Auditor. Mr. Li is 33 years old and is fluent in English and Mandarin.