June 2, 2010 (FinancialWire) — Hollysys Automation Technologies, Ltd. (NASDAQ: HOLI) said it has reduced the size of the company's board of directors from nine members to five members, and appointed CEO and co-founder, Changli Wang, as the new board chairman.

Li Qiao, who had served as chairwoman since 2007, resigned from the board in connection with the reduction, effective May 26, together with three other non-executive directors: Messrs. Kerry S. Propper, Leonard Hafetz, and Kiam Fee Yao. The company said that three of the company's four continuing directors, Jianyun Chai, Colin Sung, and Qingtai Chen are "independent" directors, as that term is defined by the rules of the Nasdaq Stock Market.

China-based Hollysys Automation Technologies is a provider of automation and control technologies and applications in China,

Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate, courtesy of Stock Smart (at http://investrend.stocksmart.com/ss/html/hpcompany.html).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[hlmsmlh] [chnchn] [ndnsndnsndns] [tchnlgy] [advnctchnlgy] [btnwswntb] [clvloy]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.