Sino Agro Food CFO to concentrate on Europe

Chinese Sino Agro Food Inc has announced that Mr Bertil Tiusanen is resigning his position of Chief Financial Officer and assuming the role of Senior Vice President of Business Development, New Ventures-Europe. In his new capacity, Mr Tiusanen will work to identify opportunities consistent with SIAF’s global strategy, engaging with SIAF’s global commercial leadership team, prioritizing current and new initiatives, and managing their launch in Europe. The aquaculture carve-out for listing in Norway is the first priority.
Mr.Tiusanen commented on the transition: “I am thrilled about the opportunity to accelerate SIAF’s efforts to list an aquaculture subsidiary in Norway and to explore further European business ventures in the benefit of the Company and its shareholders. SIAF is best served with a CFO who can readily travel and work between the various subsidiaries in China on an ongoing basis. It is virtually impossible for someone to serve that role effectively along with the demands of this new position at the same time.”
In the interim, Mr Daniel Ritchey, a member of the SIAF Board of Directors and currently its Audit Committee has been offered and has accepted the position as acting CFO. Upon his appointment as acting CFO, Mr Ritchey will resign as a member of the Audit Committee.
Sino Agro Food develops and operates protein food production facilities in the People’s Republic of China. The company produces, distributes, markets, and sells sustainable seafood and beef to the rapidly growing middle class in China. Activities also include production of organic fertilizer and produce. The Company is a global leader in developing land based recirculating aquaculture systems (RAS), and with its partners is the world’s largest producer of sustainable RAS prawns.
Founded in 2006 and headquartered in Guangzhou, the company had over 550 employees and revenue of $404M in 2014. Operations are located in the provinces of Guangdong, Qinghai, Hunan, and Shanghai.