China Sky One (CSKI) Confirms Resignation of 26 Middle-Management Employees
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China Sky One Medical, Inc. (Nasdaq: CSKI), announced that Yanqing Liu, the Company's Chairman, President and Chief Executive Officer, is being treated for a life-threatening illness. Following surgery, he is expected to undergo long-term chemotherapy and traditional Chinese medicine treatments. As a result, Mr. Liu's availability to devote time to the Company's business will be substantially reduced.
Recently, 26 middle-management level employees have resigned, of which nine were in the accounting department, two were in the internal control department, two were in the information technology department, 11 were in the sales department, and two were in the production center. Although the Company is seeking to recruit personnel, it may not be able to hire qualified personnel in a timely manner, or at all.
Liu's health concerns and the loss of such management employees are likely to materially adversely affect many aspects of the Company's business, including its ability to maintain customer relationships, meet production schedules, as well as maintain its internal controls.
Recently, 26 middle-management level employees have resigned, of which nine were in the accounting department, two were in the internal control department, two were in the information technology department, 11 were in the sales department, and two were in the production center. Although the Company is seeking to recruit personnel, it may not be able to hire qualified personnel in a timely manner, or at all.
Liu's health concerns and the loss of such management employees are likely to materially adversely affect many aspects of the Company's business, including its ability to maintain customer relationships, meet production schedules, as well as maintain its internal controls.
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