Xinhua, the Chinese financial and entertainment media company, has expanded its board of directors by four independent directors and a management director, according to a report in Business Week’s online edition.
As a result, the board will now comprise 12 directors, seven of whom are independent. New to the board are Larry Kramer, Steve Richards, Li Shantong, and David Olson, and new management directors Teddy Liu Weidong, the company’s advising group president and CEO of Xinuha Finance Advertising.
The company, which owns proxy advisory firm, Glass Lewis, had come under fire for its own governance practices, including a board that lacked indenpendence.