China Cord Blood Corporation director resigns

HONG KONG – China Cord Blood Corporation (NYSE: CO), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, announced that Jeremy Yee has resigned as an independent non-executive director of the CCBC and member of the Compensation Committee, effective immediately.

Mr Yee's resignation was driven by his need to fully concentrate on business development and overseas expansion of Cordlife, the cord blood and tissue banking services company of which he is chief executive

"On behalf of our Board, I would like to thank Mr. Yee for his contributions during his tenure on our Board, and we wish him continued success in his endeavors," commented Mr. Yuen Kam, chairman of CCBC. "Cordlife has been and continues to be our important strategic partner. The two companies remain supportive of each other in jointly building a comprehensive Pan-Asia platform for cord blood banking services."

The company said it does not plan on filling Mr. Yee's board seat and the Board will consist of seven directors, including four independent directors.

China Cord Blood Corporation is the first and largest umbilical cord blood banking operator in China in terms of geographical coverage and is the only cord blood banking operator with multiple licenses. Under current China government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today. The company provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services.