SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO SECTION 13 OR 15(d) OF
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): January
CHINA BAK BATTERY,
(Exact name of registrant as specified in its
|(State or other jurisdiction
||(Commission File No.)
||(IRS Employer |
BAK Industrial Park, No. 1 BAK Street
Peoples Republic of
(Address, including zip code, of principal executive
(86-755) 6188-6818, ext 6856
telephone number, including area code)
(Former name or former
address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
[_] Written communications pursuant to Rule 425 under the Securities Act (17
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS;
ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS.
On January 7, 2013, the Board of Directors of China BAK
Battery, Inc. (the Company) appointed Mr. Danny Pan as the Companys Chief
Financial Officer, Treasurer and Secretary, effective immediately. At the same
time, Mr. Xiangqian Li resigned as the Interim Chief Financial Officer,
Treasurer and Secretary of the Company. As previously disclosed, the Company was
in the process of seeking a new Chief Financial Officer after the former Chief
Financial Officer, Mr. Ke Marcus Cui resigned on August 8, 2012.
Mr. Pan, age 41, is a Canadian Chinese with over 15 years of
financial advisory experience in Hong Kong and Mainland China. Prior to joining
the Company, Mr. Pan served from 2009 as CFO and successfully completed the
pre-IPO fund raising for Great East Packaging Group, a leading PRC Coke supplier
of PET bottles and OEM bottled water. From 2010 to 2012, Mr. Pan also served as
a financial adviser for Mr. Jiang Xiaosong, the major planner and promoter of
Boao Forum for Asia and the Chairman of Chambow Group. From 2003 to 2008, Mr.
Pan held the Financial Controller position at a Sino-Japanese joint venture,
Meng Ding Tea, in Sichuan Province that specialized in tea processing. Mr. Pan
began his career with PricewaterhouseCoopers focusing on IPO and multinational
corporation audit. In 1996, Mr. Pan earned his bachelor of Business
Administration in Accounting at Simon Fraser University in Canada and became a
member of AICPA in 2001. Mr. Pan is fluent in English, Mandarin and Cantonese.
On January 7, 2013, the Company and Mr. Pan entered into an
employment agreement (the "Employment Agreement"). The initial term of the
Employment Agreement is two years ending on January 7, 2015. Unless
terminated earlier pursuant to the Employment Agreement, upon expiration of the
initial term the employment will be automatically extended for successive
one-year terms unless either party give the other party a one-month written
notice to terminate the employment prior to the expiration of such term. The
Employment Agreement provides that Mr. Pans annual base salary is RMB 192,000
(approximately $30,380). Mr. Pan is also eligible for participating in the
Companys equity incentive plan and others standard employee benefit plans. The
Employment Agreement also contains covenants prohibiting Mr. Pan from competing
with the Company during his employment and for a period of one year following
the termination of his employment with the Company or disclosing any
confidential information of the Company both during his employment and after the
termination of employment.
The foregoing description does not purport to be a complete
statement of the parties rights and obligations under the Employment Agreement
and is qualified in its entirety by reference to the provisions of such
agreement attached to this report as Exhibit 10.1.
There is no family relationship exists between Mr. Pan and any
directors or executive officers of the Company. In addition, there has been no
transaction, nor is there any currently proposed transaction between Mr. Pan and
the Company that would require disclosure under Item 404(a) of Regulation S-K.
A copy of a January 8, 2013 press release announcing Mr. Pans
appointment is attached hereto as Exhibit 99.1.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
||CHINA BAK BATTERY, INC. |
|Date: January 8, 2013
||Xiangqian Li |
||Chief Executive Officer |