Universal Travel Group Appoints New CFO and Audit Committee Chair

Universal Travel Group, a travel services provider in the People’s Republic of China (PRC), has appointed Philip Yizhao Zhang to the position of chief financial officer (CFO) and Lawrence Lee as the new independent director and audit committee chairperson.

Zhang has over 13 years of experiences in portfolio investment, corporate finance, and accounting. He joined Universal Travel Group as the company’s independent director and audit chairman in June 2008. From April 2006 to January 2009, Zhang was the CFO for several public Chinese companies listed in the US. From April 2005 through April 2006, he was vice president and senior manager at Chinawe Asset Management Consultancy, a US public company that mainly manages non-performing loan assets in China. Zhang is a certified public accountant (CPA) of Delaware, and a member of the American Institute of Certified Public Accountants (AICPA). Zhang received a Bachelor’s degree in Economics from Fudan University, Shanghai in 1992 and obtained an MBA degree with Financial Analysis and Accounting concentrations from the State University of New York at Buffalo in 2003.

Lee has served as CFO of Synutra International since October 2007. From August 2004 to September 2007, he was vice president and CFO of Kasen International Holdings. Lee is an associate member of the Association of Chartered Certified Accountants (ACCA). Lee received a Bachelor’s degree in Management and Engineering from Beijing Institute of Technology, a Master’s degree in Economics from Renmin University of China, and a Master’s degree in Accounting and Finance from the London School of Economics.


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