HF Foods Appoints Dr. Yujie Wang to its Board of Directors

Rhea-AI Summary

HF Foods Group, a prominent food distributor to Asian restaurants in the U.S., has appointed Dr. Yujie Wang to its board of directors, effective immediately. Dr. Wang, a veteran in the food production industry with over 25 years of experience, succeeds Prudence Kuai. The board now includes four independent directors and CEO Peter Zhang. Dr. Wang's expertise spans product development, sales, general management, key account management, and personnel development. She holds a PhD in Food Engineering from Kansas State University. CEO Peter Zhang expressed enthusiasm about Dr. Wang's addition to the team, highlighting her unique qualifications and experience.

Positive

• Appointment of Dr. Yujie Wang, a veteran with over 25 years of experience in the food production industry.
• Dr. Wang's expertise in product development, sales, and key account management.
• Strong technical background with a PhD in Food Engineering from Kansas State University.
• Potential for fresh perspectives and strengthened leadership with Dr. Wang's addition to the board.

Negative

• Departure of Prudence Kuai, which may lead to concerns about continuity or experience gaps.

LAS VEGAS, July 05, 2024 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG) (“HF Foods”, or the “Company”), a leading food distributor to Asian restaurants across the United States, today announced the appointment of Dr. Yujie Wang to the Company’s board of directors effective immediately.

Simultaneously with the appointment of Dr. Wang, Prudence Kuai has departed from her position as a director of the Company. As a result of the appointment of Dr. Wang, the Company’s board of directors continues to be comprised of four independent directors and Mr. Peter Zhang, the CEO of the Company.

Dr. Wang is a veteran of the food production industry with more than 25 years of experience in product development, sales, and general management, with specialization in key account management, technical expertise in product development and support for quick service restaurants, and personnel and organizational development. Dr. Wang holds a PhD in Food Engineering from Kansas State University.

“Dr. Wang’s unique background and experience complement the Company well,” said Mr. Zhang. “We are excited to welcome Dr. Wang into the HF Foods family.”

About HF Foods Group Inc.

HF Foods Group Inc. is a leading marketer and distributor of fresh produce, frozen and dry food, and non-food products to primarily Asian restaurants and other foodservice customers throughout the United States. HF Foods aims to supply the increasing demand for Asian American restaurant cuisine, leveraging its nationwide network of distribution centers and its strong relations with growers and suppliers of fresh, high-quality specialty restaurant food products and supplies in the US, South America, and China. Headquartered in Las Vegas, Nevada, HF Foods trades on Nasdaq under the symbol “HFFG”. For more information, please visit www.hffoodsgroup.com.

Forward-Looking Statements

All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as “aims,” “continues,” “expects,” “plans,” “will,” and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company’s actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. Such factors include, but are not limited to, those disclosed under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements.

Investor Relations Contact:

HFFG Investor Relations
hffoodsgroup@icrinc.com

FAQ

Who has been appointed to the HF Foods board of directors?

Dr. Yujie Wang has been appointed to the HF Foods board of directors, effective immediately.

What is Dr. Yujie Wang's background?

Dr. Yujie Wang has over 25 years of experience in the food production industry, specializing in product development, sales, key account management, and personnel development. She holds a PhD in Food Engineering from Kansas State University.

What changes have occurred in the HF Foods board of directors?

Dr. Yujie Wang has been appointed to the board, and Prudence Kuai has departed from her position as a director.

How many independent directors are on the HF Foods board?

The HF Foods board comprises four independent directors and CEO Peter Zhang.

What is the potential impact of Dr. Yujie Wang's appointment on HF Foods (HFFG)?

Dr. Yujie Wang's extensive experience in the food production industry and technical expertise in product development may provide fresh perspectives and strengthen HF Foods' leadership.