Chairman Wang Zongnan attends board meeting of Weetabix in U.K.

The third session of the first board of directors meeting of the U.K.-based Weetabix Food Company held in London on May 13. Party Secretary and Chairman Wang Zongnan of Bright Food (Group) Co., Ltd. presided the meeting as chairman. Weetabix directors from Bright Food Group, Lion Capital and Weetabix Food Company attended the meeting.

The meeting first reviewed execution of various resolutions made at the second session of the first board of directors meeting, which was followed by Weetabix CEO’s report of the current macro environment’s impact on the company and work in the first quarter. After that, Weetabix CFO elaborated on performance of business indicators in the first quarter, and updated the financial budget based on business performance in the past four months and made projection for the eight months to come. In addition, the meeting also covered the present situation of business of Weetabix in China and planning for its future development, adjustment of significant business processes within Weetabix, etc.

After hearing reports on work performance from January to April this year by Weetabix CEO and CFO, Wang expressed his satisfaction with achievements of the Weetabix management team had made in the U.K. and North America in the fierce market competition, as well as his approval of the work deployment and major project arrangement for the next period. At the same time, he asked the Weetabix management team to continue focusing on and improving corporate tax planning to further reduce financial costs, to regard R&D innovation and process reengineering as a priority task in enhancing core competitiveness of the enterprise, and take transformation of the traditional management process, work process and production process as a reform. He believed that success of the reform depended on determination and perseverance of the management team, which should target the Chinese market and consumer groups and attach great importance to fostering and building brand images, enhancing brand reputation and influence and realizing substantial growth of sales on the Chinese market.