Andatee China Marine Fuel Services Corporation announced that Wen Tong tendered his resignation as a company director effective November 15, 2012. Wen Tong was a non-independent member of the Board of Directors and therefore did not hold any Board Committee memberships. His departure was not due to any disagreement with the Company, but was due to his intention to pursue other professional and personal opportunities.

Also effective as of November 15, 2012, the Board appointed Dr. Zhenyu Wu to serve on the Board. Zhenyu Wu was appointed to fill the vacancy on the Board following Wen Tong's departure from the Board. In addition, the Board appointed Dr. Wu to serve on each of the standing committee of the Board: the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee.

During the past six years, Dr. Wu has held a number of academic appointments and offices at the institutions of higher learning in Canada. Specifically, since 2012, he has held positions of a tenured Associate Professor and Canada Research Chair (Tier 2) in Entrepreneurship and Innovation at the University of Manitoba. In 2011, he joined the same institution as a tenured Associate Professor and Stu Clark Professor of Financial Management.