The CEO does not have to be a director.
At the moment it's Peter & Patrick balancing out Max Ji & Mr Wang who represents Jigao 34%.
The BOD will decide new CEO, he may or may not eventually replace Peter on the BOD.
I can't see Peter staying more than 6 months, my guess is he will see financing through and select the CEO with the BOD before departing.
A smooth and orderly transition..But that's my thoughts.
Our Board, page-2
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