Exhibit 99.1
GigaCloud Technology Inc Announces Changes to its Board of Directors
WALNUT, Calif., August 10, 2023 (GLOBE NEWSWIRE) GigaCloud Technology Inc (Nasdaq: GCT) (GigaCloud or the Company), a
pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced changes to the composition of its board of directors (the
Board).
Mr. Xin Wan, who served as the Companys executive director, and Mr. Kainan Qian, who served as the Companys non-executive director, have each resigned as a director of the Board, effective August 16, 2023. Mr. Wan will continue to serve as the Companys chief technology officer.
Mr. Thomas Liu and Mr. Binghe Guo, who served as the Companys independent directors, will retire from the Companys Board effective on
August 16, 2023 when their terms of office expire.
The Board would like to express its sincere gratitude and appreciation to Mr. Wan,
Mr. Qian, Mr. Liu and Mr. Guo for their contribution to the Company during their tenure of service in the Board.
On August 10, 2023, the
Board appointed each of Mr. Jan (John) William Visser and Mrs. Lorri Kelley to serve as a director of the Board. Each of Mr. Visser and Mrs. Lorri Kelley was also appointed to serve on the Audit Committee, the Nominating and
Corporate Governance Committee and the Compensation Committee of the Board. Each of Mr. Visser and Mrs. Lorri Kelley will receive compensation in accordance with the Companys compensation arrangements for independent directors.
Mr. Visser is the Vice President of Global Logistics for doTERRA International since August 2018. Previously, he worked at Walmart, Inc. for almost 19
years where he had various responsibilities, including his last role as a vice president leading teams to provide strategic direction, talent development, process efficiency expertise and cost reduction support to Walmarts international
markets. Mr. Visser has also served on Brigham Young Universitys Global Supply Chain Advisory Board since 2011. Mr. Visser received his bachelors degree in Spanish Translation from Brigham Young University in 1992 and his MBA
from the Thunderbird School of Global Management in 1996.
Mrs. Kelley is an established business executive, and in 2018 she founded Lorri Kelley
Advisors, Inc., a strategic consulting firm providing services and guidance for manufacturers, retailers and a variety of service companies throughout the home and furniture industry. She has over 30 years of experience, serving in multiple
executive roles, including President of BDI Furniture, Executive Vice President of Palliser Furniture, President and Chief Operating Officer for Home Elements, Chief Commercial Officer of Handy Living and Chief Sales and Marketing Officer at UNITERS
North America. Mrs. Kelley is involved in all facets of the furniture industry, serving on the board of directors for City of Hope, WithIt and Klaussner Furniture. She received a Marketing and Merchandising Degree from Johnson County College in
1982.
We are pleased to welcome John and Lorri to our Board. Both carry deep industry expertise, and are well qualified to provide GigaCloud with
fresh insight and diverse viewpoints on the business. We are thrilled to have them join, and look forward to starting our work together, said Larry Wu, Founder, Chairman of the Board of Directors, and Chief Executive Officer of GigaCloud.
I also want to thank Mr. Wan, Mr. Qian, Mr. Liu and Mr. Guo for their service over the past year. We appreciate your hard work and wish you all the best moving forward.
Following the above changes to the composition of the Board, the Board will comprise five directors, three of whom are independent.