China Infrastructure Construction Appoints Charles Tamburello as Director

China Infrastructure Construction (OTCMKTS:CHNC) announced on November 22, 2024, that its Board of Directors had made significant changes to its governance structure. The Board, in accordance with the company’s by-laws, decided to expand the number of board members from three to four. Subsequently, the newly created position was filled by Charles Tamburello, who is set to commence his role as a director starting December 1, 2024.

Mr. Tamburello, aged 51, joins China Infrastructure Construction with a wealth of experience in the field of mergers and acquisitions. His most recent position was as the Chief Executive Officer of Global Discovery Group, Inc., located in Miami, Florida.

It is noted that there were no pre-existing arrangements or agreements between Mr. Tamburello and the company prior to his appointment. However, to formalize his role, China Infrastructure Construction and Mr. Tamburello have entered into a Director Agreement dated November 22, 2024. Under this agreement, Mr. Tamburello will receive 100,000,000 shares of the company’s common stock as equity compensation, with no cash compensation. In the event of his resignation or removal for cause before November 30, 2025, he will be required to sell, assign, and transfer 8,333,333 shares of common stock to the company for each full month remaining until October 31, 2025.

Furthermore, the company has obligations to indemnify Mr. Tamburello in case he faces legal challenges or claims arising from his directorial duties. China Infrastructure Construction is also bound to ensure the confidentiality of proprietary information shared with Mr. Tamburello during his tenure.

In another significant development, on November 15, 2024, the Board of Directors established an Executive Committee empowered to act on behalf of the Board in managing the company’s affairs. This committee has been granted certain powers but is restricted in its authority in several key areas outlined in the Colorado Business Corporation Act.

The company also disclosed the entry into a Nondisclosure/Noncircumvent Agreement on March 12, 2024, with Global Discovery Group, Inc., a firm where Mr. Tamburello holds a controlling position. This agreement outlines the confidential information that may be exchanged between the two entities and the terms governing the same.

China Infrastructure Construction furnished this information through a filing with the SEC on Form 8-K on November 22, 2024. This move signals the company’s commitment to maintaining transparency and compliance with regulatory standards, as well as its strategic steps to augment its board composition and governance structure.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read China Infrastructure Construction’s 8K filing here.

China Infrastructure Construction Company Profile

China Infrastructure Construction Corp. provides educational systems that focuses on medical cannabis in the United States and Latin America, and worldwide through online education. The company offers services in the therapeutic areas of clinical trials; and relating to sleep disorders, including resulting infertility, through its fertility and sleep center in Houston, Texas.