Polyard Petroleum International Group Limited announced that Mr. Zhang Xiaobao has tendered his resignation as executive director of the company which will become effective from 25 May 2012 as Mr. Zhang wants to devote more time to his personal and business affairs which do not compete with the business of the company. The Board further announced that Mr. Lai Chun Liang has been appointed as executive director of the company with effect from 25 May 2012. Mr. Lai, aged 47, joined Polyard Petroleum International Company Limited, a wholly-owned subsidiary of the company, as Executive Vice President in 2003. He was appointed as Chief Operating Officer of the Group in September 2009 and as Chief Executive Officer in June 2010. He holds a bachelor degree in electronic engineering from Feng Chia University, Taiwan. Prior to joining the Group, he had over 10 years of experience in the development of angiocarpy monitoring instrument and research on GPS and navigation system. He has over 15 years of experience in the operations and management of companies.