Cenntro Electric Group announces changes to Board of Directors

Appoints Financial Executive Stephen Markscheid to board and Benjamin Ge as chairman of the audit committee

Cenntro changes board of directors

Freehold-based Cenntro Electric Group Limited recently announced the appointment of Stephen Markscheid as a new independent director of the Board of Directors of the Company to fill the vacancy following the resignation of Christopher Thorne from the Board and in conjunction, the appointment of current Independent Director Benjamin Ge as chairman of the Audit Committee of the Board.

Stephen Markscheid is a corporate finance professional with 30+ years’ experience in the U.S., Asia and Europe, specializing in M&A, strategic investments, joint ventures and new business development across industries in emerging markets. He is currently the Managing Principal of Aerion Capital, a family office. He serves as an independent non-executive director of six publicly listed companies: Fanhua, Inc., Jinko Solar Inc., Kingwisoft Technology Services Ltd., Monterey Capital Acquisition Corporation, Four Leaf Acquisition Corporation, and Tristar Acquisition Corporation. Steve is also a trustee emeritus of Princeton-in-Asia. From 1998-2006, Steve worked for GE Capital. Prior to GE, Steve worked with the Boston Consulting Group throughout Asia. Steve was a banker for ten years in London, Chicago, New York, Hong Kong and Beijing with Chase Manhattan Bank and First National Bank of Chicago. Steve began his career with the US-China Business Council, in Washington D.C. and Beijing.

“We welcome Stephen to the Board of Directors, a multi-cultural and multi-lingual financial leader with successful execution across diverse industries including healthcare, technology, banking, and finance,” Peter Wang, chairman and CEO of Cenntro said. “He brings valuable experience and insights in global finance and capital markets and will help us expand the breadth and depth of our reach as a Company, positioning us to scale as we enter the next phase of growth and create additional value for our shareholders.

“We would also like to thank Christopher Thorne for his dedicated service to Cenntro’s Board of Directors and all his contributions to the transformation of our Company. We are now privileged to announce Benjamin Ge has become the Chairman of the Audit Committee in addition to his continued role as an Independent Director. Benjamin is an accomplished expert with extensive corporate finance and private equity experience, making him ideal for this role,” concluded Wang.