Item 5.02 | | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
Effective March 14, 2008, Raymond Reed Baker was elected by the board as a director of Great China International Holdings, Inc. No determination has been made with respect to the appointment of Mr. Baker to any board committees. In the course of his service as a director, the parties are agreed that Mr. Baker will assist Great China International with financing and budgeting issues, along with matters that arise in the course of Great China International’s business operations. Great China International agreed to pay to Mr. Baker a monthly fee of RMB 10,000 (approximately US $1,408). There were no transactions between Great China International and Mr. Baker in 2007 and no transactions agreed or contemplated for 2008 that involve the payment of consideration in excess of US $120,000.
Mr. Baker is a US citizen, is a Managing Director with The One World Investment Group and has lived in China since 2004. He began his career with PricewaterhouseCoopers LLP, serving in the Transition Services practice and specializing in financial due diligence. Mr. Baker is a Certified Public Accountant in the state of Pennsylvania, has a B.S. in Accounting from The Pennsylvania State University and an MBA from Hong Kong University.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Great China International Holdings, Inc.
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Date: March 14, 2008 | | By: | | /s/ Frank Jiang | |
| | | | Frank Jiang, Chief Executive Officer | |
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