Mr Monticelli becomes China Linen’s Independent Director
China Linen Textile Industry, Ltd., a China-based company engaged in the production and sale of linen yarn and various types of linen fabric, announced that Mr. Stephen Monticelli has joined China Linen's Board of Directors, effective August 30, 2010.The Company currently has one independent director and a total of four board members.
"We are pleased to welcome Mr. Monticelli to China Linen's Board of Directors," stated Mr. Gao Ren, chairman and CEO of China Linen. "Mr. Monticelli's extensive expertise in the capital markets and experience in international business will assist the Company from both an operating and financial perspective. The management team looks forward to benefiting from his perspective and we believe he will make a significant contribution to our boards' collective ability to help us capitalize on the growth opportunities which exist in our market place."
Stephen Monticelli founded Mosaic in 1996 and launched its first two funds in 1998. Mosaic has shifted its emphasis to investing in China-based US listed companies. Mr. Monticelli has an investment career spanning 23 years and encompassing both private equity (buyouts and venture capital) and public equity. He previously served as principal at The Fremont Group (the primary investment vehicle for the Bechtel family) and also a Managing Director with Baccharis Capital, a venture-capital firm funded by another "Forbes 400" family. Prior to his investment career, Mr. Monticelli was a management consultant with Marakon Associates and a CPA with Deloitte and Touche. He has served on the board of directors of ten private and public companies and holds an MBA from the University of California at Berkeley.
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