China-based pharma and biotech company ShangPharma has appointed Mr Benson Tsang as a member of the company's Board of Directors & Audit Committee, effective November 8, 2010. Mr Kevin Penghui Chen, Chief Financial Officer (CFO) & Chief Operating Officer (COO) of ShangPharma, will resign as a member of Audit Committee, but will remain as a member of the Board. Mr Benson Tsang has been the CFO & financial and principal accounting officer of ATA since March 2010. Mr Tsang has over 21 years experience in accounting, financial management, and capital markets. He has held senior financial and management positions in multinational corporations and international accounting firms; and has financial and accounting experience with companies listed on New York Stock Exchange, Stock Exchange of Hong Kong, and the Singapore Exchange. Mr Tsang served as CFO of WuXi Pharmatech (Cayman) from July 2006 to February 2009. Prior to that, Mr Tsang held senior financial and management positions in private and public companies, including PCCW and Global Tech Holdings. He has worked at PricewaterhouseCoopers and Deloitte Touche Tohmatsu from 1988 to 1996; and between March 2009 and March 2010, Mr Tsang provided consulting services through his own firm, Benita Consulting Company. Mr Tsang is a member of the Canadian Institute of Chartered Accountants and the Hong Kong Institute of Certified Public Accountants. He received a Bachelor of Commerce degree and an MBA degree from McMaster University in Canada. Michael Xin Hui, founder & CEO of ShangPharma, commented, "We are pleased to have Mr Tsang join our company as a member of the Board & Audit Committee. His tremendous experience at publicly-listed companies in both the US and Hong Kong, and knowledge accumulated at two big-four audit firms make him a valuable addition to our team. In particular, he will be a great asset in helping our company fulfill our legal and fiduciary obligations in terms of accounting, auditing, financial reporting, internal control and legal compliance."