Shanghai-based China NT Pharma Group Co. Ltd. said Lap-Chee Tsui stepped down as an independent nonexecutive director and as a member of the company's audit committee.

Hong Yan was appointed to fill the vacated positions.

He is a professor of finance at the Shanghai Advanced Institute of Finance of Shanghai Jiao Tong University, where he serves as deputy dean and deputy director of the China Academy of Financial Research.

China NT Pharma distributes pharmaceutical products in China and internationally.