New Regulations Issued By The International Fur Association

Under the new constitution, the Executive Council of the association will be composed of 7 nominated members from industry, elected members and 7 from auction houses and farmers. The new regulations will take effect from the annual general meeting in 2011.

2 of the elected members came from Asia (one must be from China), 2 from Europe, 2 from North America and 1 from Russia.

The length of office of the chairman, vice chairman and members of the board is also determined in the constitution.

It is emphasized that there must be a member from China who embodies the recognition of the importance of the fur industry to the importance of the Chinese market.

In addition, the association will add an important position: the CEO is responsible for overseeing the operation of the association, and mainly supports the work in the political field of the association. The daily management of the association is still in charge of the executive director.

At the annual meeting, Ms. Pirkko Rantanen Kervinen, who served the international fur industry for 18 years, officially resigned from the position of chief financial officer and executive director of the association. Steven Hurwitz served as the chief financial officer of the association, while Pertti Fallenius became the nominee member of the Finland fur auction house in the Executive board of the International Fur Association.

Mr. Andreas Lenhart, chairman of the International Fur Association, reiterated at the meeting.