BlueCity Announces Changes to Board and Committee Compositions
BEIJING, Jan. 05, 2021 (GLOBE NEWSWIRE) -- BlueCity Holdings Limited (“BlueCity” or the “Company”) (NASDAQ: BLCT), a world’s leading online LGBTQ platform, today announced the appointment of Mr. Weiru Chen as a new independent director to its board of directors (the “Board”), effective immediately. Mr. Zhe Wei has concurrently resigned from his positions as a director and a member of the compensation committee and nominating and corporate governance committee of the Board. After the changes, the Board will continue to consist of five members, four of whom are independent directors. The compensation committee will consist of Ms. Rong Lu, Mr. Baoli Ma and Mr. Weiru Chen, with Ms. Rong Lu as the chairperson. The nominating and corporate governance committee will consist of Mr. Baoli Ma, Ms. Wenjie Wu and Mr. Weiru Chen, with Mr. Baoli Ma as the chairperson.Mr. Baoli Ma, BlueCity’s Founder, Chairman and Chief Executive Officer, stated: “We are excited to welcome Mr. Weiru Chen to join our Board.
BlueCity Announces Changes to Board and Committee Compositions
BEIJING, Jan. 05, 2021 (GLOBE NEWSWIRE) -- BlueCity Holdings Limited (“BlueCity” or the “Company”) (NASDAQ: BLCT), a world’s leading online LGBTQ platform, today announced the appointment of Mr. Weiru Chen as a new independent director to its board of directors (the “Board”), effective immediately. Mr. Zhe Wei has concurrently resigned from his positions as a director and a member of the compensation committee and nominating and corporate governance committee of the Board. After the changes, the Board will continue to consist of five members, four of whom are independent directors. The compensation committee will consist of Ms. Rong Lu, Mr. Baoli Ma and Mr. Weiru Chen, with Ms. Rong Lu as the chairperson. The nominating and corporate governance committee will consist of Mr. Baoli Ma, Ms. Wenjie Wu and Mr. Weiru Chen, with Mr. Baoli Ma as the chairperson.Mr. Baoli Ma, BlueCity’s Founder, Chairman and Chief Executive Officer, stated: “We are excited to welcome Mr. Weiru Chen to join our Board.