The Board of LightInTheBox Holding Co., Ltd. announced that Dr. Hanhua Wang was appointed, effective April 8th, 2020, as the chairperson of the audit committee of the Board (the “Audit Committee”), a member of the compensation committee and the corporate governance and nominating committee of the Board, respectively, to fulfill the vacancies in the committees. Dr. Wang has ample financial management experience including overseeing the operation and financial condition of the company when he was the President of Amazon.cn and the VP of Amazon.com. During the period, he regularly reviewed accountant reports and discussed financial matters with other management. The Board also announced that Dr. Lei Deng was appointed, effective April 8th, 2020, as an independent director to fulfill the vacancy on the Board, and in connection therewith, appointed as a member of the Audit Committee. Dr. Deng is a senior partner since 2004 at China Commercial Law Firm, a leading and full-service law firm in China. In addition, Dr. Deng has over 13 years of corporate governance experience in listed companies. Dr. Deng serves as an independent director in various listed companies including Shenzhen Huaqiang Industrial Co., Ltd., and China Fangda Group Co., Ltd. Dr. Deng is also a consultant for Shenzhen Stock Exchange, providing advisory and legal services to governments and enterprises on corporate governance and capital market regulations.
LightInTheBox Holding Co., Ltd. is an apparel e-commerce retailer that ships products to consumers worldwide. The Company is focused on serving middle-aged and senior customers. The Company operates through two segments: Product sales and Services. Its Product sales segment consists of online retailing of consumer products. Its Services segment consists of provision of logistic services to other e-commerce retailers. The Company offers customers products through its websites and mobile applications. Its product offerings include apparel, such as fast fashion and customized, special occasion apparel, and other general merchandise, such as small accessories and gadgets, home garden, toys and hobbies, electronics and communication devices and other products. The Company operates its business through www.lightinthebox.com, www.miniinthebox.com, www.ezbuy.sg and other websites, as well as mobile applications that are available in more than 20 languages and 140 countries and regions.