Ichi Shih has stepped down from her position as Chief Financial Officer of China Valves Technology, Inc., effective May 27, 2010. Replacing her is Renrui Tang who will serve as interim CFO until a permanent CFO is named.
Tang has 17 years of experience from working with China Valves and is currently the company's finance director. Between 1994 and 2004, Tang worked for the company's subsidiary Zhengzhou Zhengdie Valve Co. Ltd. as manager of the finance department. He had previously been in charge of Zhengdie's financing activities and managed various accounting duties. From 2004 to April 2008, Tang served as finance director of the company's subsidiary Henan Kaifeng High Pressure Valve Co. Ltd. His major responsibilities included managing accounting and financing activities, supervising financial analysis, capital allocation, internal control and auditing. Between February 2009 and July 2009, he also served as the company's interim CFO. Tang is an International Certified Public Accountant (ICPA).
China Valves has also appointed Jy Ng as financial controller to assist with accounting and financial reporting duties. Ng has seven years of experience in financial auditing and SOX 404 compliance from Andersen Consulting and PricewaterhouseCoopers. His latest position was manager of the Assurance Division at PricewaterhouseCoopers.