Envirotech Vehicles appoints Jason Maddox to board of directors
Rising Dragon Acquisition Corp. (NASDAQ:RDAC), a $75.74 million market cap company categorized under the "blank checks" industry, announced today the resignation of Robert Wilson Garner from its board of directors and various committees, effective immediately. The company’s stock, currently trading at $10.29, has shown consistently low volatility according to InvestingPro data. Garner, who cited personal reasons for his departure, served as an independent director and was also part of the audit, nominating, and compensation committees, including his role as chairman of the compensation committee.
In the same announcement, the company confirmed the appointment of Yucan Zhang as an independent director to fill the vacant position. Zhang, 30, brings to the board a background in project management and full-stack development, with over seven years of professional experience. His recent roles include Front-End Lead & Project Manager at Enchant Christmas since July 2022, and prior to that, he held positions at Yuerquan Tea and Meili Finance as a full-stack engineering and project manager.
Zhang’s educational qualifications include a bachelor’s degree in Mechanical Engineering from Memorial University of Newfoundland, obtained in 2017. The company disclosed that there are no familial ties between Zhang and any current directors or executive officers, and no related party transactions involving him that would require reporting under SEC regulations.
The changes in the board composition come at a time when Rising Dragon Acquisition Corp. continues to navigate the business landscape as an emerging growth company. Trading near its 52-week high of $10.41, the stock has demonstrated resilience in the market. The company has clarified that Garner’s resignation was not due to any disagreements with the company’s operations, policies, or practices. For deeper insights into RDAC’s performance metrics and additional analysis, InvestingPro offers comprehensive financial health scores and exclusive ProTips.
This announcement is based on a press release statement filed with the SEC. The company maintains a non-dividend policy, focusing on potential business combination opportunities typical of blank check companies.
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