Vimicro Announces the Appointment of David Tang as Chief Financial Officer and Vice President
30 7월 2008 - 5:45AM
PR Newswire (US)
BEIJING, July 29 /Xinhua-PRNewswire-FirstCall/ -- Vimicro
International Corporation (NASDAQ:VIMC), a leading fabless
semiconductor company that designs and develops multimedia
semiconductor products and solutions, today announced the
appointment of David Tang as Chief Financial Officer and Vice
President effective August 1, 2008. Mr. Tang replaces Quincy Tang,
who will leave the Company effective July 31, 2008 to pursue other
opportunities. (Logo:
http://www.newscom.com/cgi-bin/prnh/20070528/CNM014LOGO ) "We are
pleased to welcome David as our new Chief Financial Officer.
David's extensive experience in financial functions both
domestically in China and with U.S. and Hong Kong listed companies
makes him ideally suited to lead our accounting and finance efforts
as we continue to grow," said Dr. John Deng, Vimicro's Chairman and
Chief Executive Officer. "I would also like to thank Quincy for his
dedication with Vimicro, during which he has made efforts to
shorten the audit process and put in place the team, systems and
controls that will make this an easy transition." Prior to joining
Vimicro, Mr. Tang served as the Chief Financial Officer of CNinsure
Inc. a NASDAQ listed company operating in China. Prior to CNinsure,
Tang has also served as the Chief Financial Officer in two other
companies, including: IRICO Group, a Hong Kong and China listed
company, and Chinasoft International, a Hong Kong listed company.
Prior to those positions, he was an equity research analyst at
Merrill Lynch & Co. in New York. Mr. Tang received his MBA
degree from Stern School of Business, New York University. About
Vimicro International Corporation Vimicro International Corporation
is a worldwide leading fabless semiconductor company that designs,
develops and markets proprietary embedded multimedia signal
processing chips and solutions that enable multimedia applications
for mobile phones over 2.5G/3G networks and PCs over broadband
Internet. Vimicro's ADSs, each of which represents four ordinary
shares, are currently trading on the NASDAQ Global Market under the
ticker symbol "VIMC." Forward-Looking Statements This announcement
contains forward-looking statements. These statements are made
under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Among other
things, the quotations from management in this announcement, as
well as Vimicro's expectations and forecasts, contain
forward-looking statements. Vimicro may also make written or oral
forward- looking statements in its periodic reports to the U.S.
Securities and Exchange Commission on forms 20-F and 6-K, etc., in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about Vimicro's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward- looking statement, including but not
limited to the following: our limited history of achieving net
profit; our growth strategies; our future business development,
results of operations and financial condition; our ability to
develop and sell mobile multimedia processors that meet changing
consumer preferences and industry standards; decrease in the demand
for our notebook and PC camera multimedia processors and
third-party image sensors which we bundle with some of our PC
camera multimedia processors; that multimedia opportunities
associated with the 3G build out in China will make a significant
contribution to our longer-term growth; our ability to increase our
penetration of the PC and notebook multimedia markets; our ability
to secure sufficient foundry capacity in a timely manner; our
ability to maintain existing customers and attract new customers;
and the expected growth of the mobile multimedia processor market.
Further information regarding these and other risks is included in
our annual report on Form 20-F filed with the Securities and
Exchange Commission. Vimicro does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law. All information provided in this press release is
as of July 29, 2008, and Vimicro undertakes no duty to update such
information, except as required under applicable law. For further
information about Vimicro, please contact: Investor Contact: Ryan
Bright Shelton Group Investor Relations Tel: +1-972-239-5119 x159
Email: http://www.newscom.com/cgi-bin/prnh/20070528/CNM014LOGO
DATASOURCE: Vimicro International Corporation CONTACT: Investor
Contact - Shelton Group Investor Relations, Ryan Bright,
+1-972-239-5119 x159, or Web site: http://www.vimicro.com/
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