CNinsure President, Co-founder Qiuping Lai Retires; CEO To Be Board Member

(RTTNews) - CNinsure Inc (CISG), a Chinese online-to-offline financial services provider, announced Tuesday that its president and co-founder Qiuping Lai, aged 62, has retired from the Company and the board of directors.

Chunlin Wang, chief executive officer of the Company, has been elected to fill the vacancy on the Board created by Lai's retirement as an executive director. The resignation and appointment became effective March 27.

Wang joined CNinsure in 1998 and has been CNinsure's chief executive officer since October 2011. From 1998 to 2011, he held various managerial positions in CNinsure.

Lai is the co-founder of CNinsure and has served as the president and director of the Company since 2004.

Yinan Hu, Chairman of CNinsure, stated, "Qiuping has made tremendous contributions to CNinsure's development and success since we founded it together in 1998..."