Contact Information: Contacts: In China: Matt Feng Investor Relations China Tel: 133-1130-0320 matt.feng@agriacorp.com In the U.S.: David Pasquale Senior Vice President U.S. Tel: +914-337-1117 david.pasquale@agriacorp.com
Agria Promotes Lo to Acting CFO
| Source: Agria Corporation
BEIJING--(Marketwire - March 19, 2009) - Agria Corporation (NYSE : GRO ) (the "Company" or
"Agria"), an innovative China-based agri-solutions provider, today
announced it has promoted Mr. Raymond Lo, CPA, to the position of acting
chief financial officer, effective April 1, 2009. Mr. Lo has served as
Agria's financial controller since January 2009. He will succeed Mr. Gary
Yeung, who has served as chief financial officer since February 2007 and is
resigning to pursue other opportunities. Mr. Yeung will continue to serve
as a director of Agria. Agria also announced today the resignation of Ms.
Juliana Xu, effective March 31, 2009, who served as chief technology
officer of Agria since May 2007. The company does not consider it
necessary to make an immediate replacement with another chief technology
officer. Agria will continue to maintain its core research and development
team, while at the same time, continuing to enhance collaborations with
institutional technical partners such as the China National Agricultural
Bureau.
Alan Lai, Agria's chairman and chief executive officer, commented, "We
thank Gary for his past contributions and continuing service as a director
of the Company. At the same time, we are pleased to have Raymond as his
successor. Raymond has more than 23 years of finance experience, ranging
from serving as a senior accountant at one of the world's largest auditing
firms to holding various positions as a financial controller, chief
financial officer and consultant. We look forward to his leadership in the
ongoing preparation of our year-end results and management of our finance
department."
Cheuk Kwong (Raymond) Lo, 45 years old, has more than 23 years of
experiences in accounting, consulting and financial reporting in both
listed and non-listed companies in Hong Kong and Singapore. He is a fellow
member of the Hong Kong Institute of Certified Public Accountants and
recognized as a CPA in Australia. Prior to joining Agria as financial
controller in January 2009, Mr. Lo served as a director and shareholder of
Perfect Team Consultants, Ltd. Earlier in his career he served as the
financial controller for Chen Chien Holdings Ltd., the group chief
financial officer at GMT Shipping (HK) Ltd., the chief officer in the
financial and administration division at Chen Hsong Machinery Co. Ltd.; and
an assistant general manager at Bowden Industries Limited. Mr. Lo has also
served as a senior accountant with Peat Marwick (now KPMG). He received a
Bachelor of Commerce (with Merit) degree in accounting from the University
of Wollongong (Australia) and also a Master degree in Business
Administration (with Credit) from The Hong Kong Polytechnic University.
About Agria Corporation
Agria Corporation (NYSE : GRO ) is an innovative China-based agri-solutions
provider focusing on research and development, production and distribution
of three different types of upstream agricultural products. Its diversified
portfolio of products comprises corn seeds, sheep breeding and seedlings,
including proprietary products. The Company has access to approximately
27,000 acres of farmland in seven provinces and its extensive distribution
network provides direct or third party distribution in 14 provinces. For
more information about Agria Corporation, please visit www.agriacorp.com.
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