SHENZHEN, China, Dec. 31 /PRNewswire-Asia-FirstCall/ -- China Nepstar
Chain Drugstore Ltd. (NYSE: NPD) ("China Nepstar" or the "Company"), the
largest drugstore chain in China based on the number of directly operated
stores, today announced that Mr. Yongtu Long has resigned for personal reason
after over two years serving as an independent director of the Company. The
resignation is effective December 31, 2009.
Mr. Long has also served on the Corporate Governance and Nominating Committee of the Board. The Board has appointed Mr. Gary Siu Kwan Sik, an existing independent director, to be a new member of the Committee.
Upon the effectiveness of Mr. Long's resignation, the Board of China Nepstar will consist of five directors, including three independent directors.
About China Nepstar Chain Drugstore Ltd.
China Nepstar Chain Drugstore Ltd. (NYSE: NPD) is China's largest retail drugstore chain based on the number of directly operated stores. As of September 30, 2009, the Company had 2,337 stores across 67 cities, one headquarter distribution center and 12 regional distribution centers in China. Nepstar uses directly operated stores, centralized procurement and a network of distribution centers to provide its customers with high-quality, professional and convenient pharmacy services and a wide variety of other merchandise, including OTC drugs, nutritional supplements, herbal products, personal care products, family care products, and convenience products including consumables. Nepstar's strategy of centralized procurement, competitive pricing, customer loyalty programs and private label offerings has enabled it to capitalize on the robust economic growth in China and to take advantage of the demographic trend in China to achieve a strong brand and leading market position. For further information, please go to http://www.nepstar.cn .
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Mr. Long has also served on the Corporate Governance and Nominating Committee of the Board. The Board has appointed Mr. Gary Siu Kwan Sik, an existing independent director, to be a new member of the Committee.
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Upon the effectiveness of Mr. Long's resignation, the Board of China Nepstar will consist of five directors, including three independent directors.
About China Nepstar Chain Drugstore Ltd.
China Nepstar Chain Drugstore Ltd. (NYSE: NPD) is China's largest retail drugstore chain based on the number of directly operated stores. As of September 30, 2009, the Company had 2,337 stores across 67 cities, one headquarter distribution center and 12 regional distribution centers in China. Nepstar uses directly operated stores, centralized procurement and a network of distribution centers to provide its customers with high-quality, professional and convenient pharmacy services and a wide variety of other merchandise, including OTC drugs, nutritional supplements, herbal products, personal care products, family care products, and convenience products including consumables. Nepstar's strategy of centralized procurement, competitive pricing, customer loyalty programs and private label offerings has enabled it to capitalize on the robust economic growth in China and to take advantage of the demographic trend in China to achieve a strong brand and leading market position. For further information, please go to http://www.nepstar.cn .
For more information, please contact:
In China:
Lucia Qian
China Nepstar Chain Drugstore Ltd.
Vice President, IR
Tel: +86-755-2641-4065
Email: [email protected]
In the United States:
Dixon Chen
Grayling Investor Relations
Tel: +1-646-284-9403
Email: [email protected]
Ivette Almeida
Grayling Media Relations
Tel: +1-646-284-9455
Email: [email protected]
SOURCE China Nepstar Chain Drugstore Ltd.