CDC Corporations's (CHINA) subsidiary CDC Software has appointed two board members to positions in corporate governance as part of its preparation for CDC Corporation's potential carve-out of CDC Software.
John Clough, vice chairman for CDC Software's Board of Directors, will serve as chairman of the Audit Committee and will oversee the company's audit and financial reporting processes, internal controls and risk management systems. Tom Manning will serve as chairman of the Compensation Committee and assist the Board in reviewing and approving executives and directors' compensation and supervise the administration of the company's equity incentive plans.
"We are very fortunate to have the deep experience and talent on our Board needed to fill these critical governance positions," said Peter Yip, executive chairman of CDC Software. "Both John and Tom bring successful track records with public technology companies that will be invaluable to CDC Software as we move forward with our plans."