China Automotive Systems Welcomes Two New Directors
China Automotive Systems Inc. (Nasdaq: CAAS) announced it has appointed Henry Lu and Tong Kooi Teo as new independent members of the board of directors Tuesday.
Henry Lu has a background serving with McKinsey & Co. Hong Kong-listed Hua Lien International Co. Ltd. and U.S.-listed Nepstar Drugstore.
Tong Kooi Teo is serving as head of DPS Corporate Advisory Co. Ltd. and has worked for Deutsche Bank Malaysia.
Hubei-based China Automotive Systems is a leading power steering components and systems supplier in China, offering a range of steering system parts for passenger automobiles and commercial vehicles. It currently offers four separate series of power steering with an annual production capacity of more than six million sets of steering gears, columns and steering hoses.
Shares in China Automotive Systems closed at $2.15 apiece, down 2 percent, Tuesday in New York.