Shashank Aurora, CPA, FCA, hired to enhance financial strength, build momentum
May 16, 2016 – Des Moines, IOWA – Origin Agritech Ltd., a technology-focused crop seed provider, is pleased to introduce Shashank Aurora, CPA, FCA, as the organization’s new chief financial officer. Aurora will start his new position effective immediately. He joins Origin’s senior leadership team, along with recently named CEO Dr. William S. Niebur, to further position the company as a global participant in the biotechnology and agricultural seeds industry.
As CFO, Aurora will ensure accurate and timely financial reporting, strong execution of fiscal strategy, improve cash flow, identify new ways to drive greater profitability, raise capital, reduce debt and further establish the company at a global level.
“This is a great opportunity, and I’m very excited to play a key role in growing Origin’s global presence as we shift our focus to strategic collaboration and partnership opportunities to enhance industry-specific momentum,” Aurora said. “Using my experience and background, I look forward to ensuring the organization is operationally and fiscally responsible, while leveraging my skills to improve the competitive strength and sustainability of the company.”
Aurora most recently served DuPont Pioneer in the capacity of global services finance director. With more than two decades of experience with the organization, he led numerous DuPont Pioneer entities across the globe to strong financial results, including locations in Africa, Canada, China, India, Latin America and Pakistan.
“We are excited to welcome Shashank to our team,” said Dr. Gengchen Han, Origin Agritech Chairman of the Board. “He brings a wealth of knowledge to the organization, including industry insight and financial savvy. His expertise will be crucial as we enhance Origin’s core seed business and pursue global opportunities that we have initiated.”
Aurora earned his Bachelor of Life Sciences degree from Nizam College, Osmania University, in Hyderabad, India, along with certifications as FCA from The Institute of Chartered Accountants of India and CPA from the American Institute of Certified Public Accountants. He is fluent in English and Hindi, and is familiar with Arabic.
“Shashank is an ideal executive to help position Origin for the future opportunities that we will pursue and prioritize,” said Dr. Niebur, Origin CEO. “His vast global experience combined with a deep understanding of business finance and large complex investments will be critical to Origin as we advance our mission.”
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Origin Agritech Limited, founded in 1997 and headquartered in Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is China’s leading agricultural biotechnology company, specializing in crop seed breeding and genetic improvement, seed production, processing, distribution, and related technical services. Leading the development of crop seed biotechnologies, Origin Agritech's phytase corn was the first transgenic corn to receive the Bio-Safety Certificate from China's Ministry of Agriculture. Over the years, Origin has established a robust biotechnology seed pipeline including products with glyphosate tolerance and pest resistance (Bt) traits. Origin operates production centers, processing centers and breeding stations nationwide with sales centers located in key crop-planting regions. Product lines are vertically integrated for corn, rice and canola seeds. For further information, please visit the Company’s website at: http://www.originseed.com.cn or http://www.originseed.com.cn/en/.
Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," similar expressions, and variations or negatives of these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the company's control. Some of the important factors that could cause the company's actual results to differ materially from those projected in any such forward-looking statements are: fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; ability to respond to market acceptance, rules, regulations and policies affecting products based on biotechnology and, in general, for products for the agriculture industry; outcome of significant litigation and environmental matters, including realization of associated indemnification assets, if any; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war, natural disasters and weather events and patterns which could affect demand as well as availability of products for the agriculture industry; ability to protect and enforce the company's intellectual property rights; and successful integration of acquired businesses and separation of underperforming or non-strategic assets or businesses. The company undertakes no duty to publicly revise or update any forward-looking statements as a result of future developments, or new information or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
