Wednesday, 27 October 2010

Ex World Bank Managing Director is appointed as Chairman of the Board at DP CleanTech

Effective 15th October 2010 Zhang Shengman was appointed Chairman of the Board for The DP CleanTech Group Limited.

Shengman is the Chairman of Citigroup in the Asia Pacific which employs over 50,000 people in 19 different countries generating revenues approaching US$15 billion. Shengman is also on the Board of Directors of Guangdong Development Bank.

Prior to joining Citigroup, Shengman was Managing Director at the World Bank, most recently in charge of the Bank's operations worldwide and chaired, among others, the Bank's Operations Policy Committee, the Operations Committee and the Corporate Committee on Fraud and Corruption Policy. Mr. Zhang was also Chairman of the Bank Group's Crisis Management Committee.

Simon Parker commented – ‘I am delighted to have such a figure take on the role of Chairman of the Board. During my time at Citigroup, Shengman was a close mentor to me and proved himself as a strong and decisive leader. I anticipate his presence to be of great value as we move forward.’

In recent years DP CleanTech has received a number of large investments and loans in order to help achieve its long-term growth strategy, the demand for biomass and waste to energy power plants has never been higher and DP CleanTech is well positioned to capitalize.