BEIJING, June 17, 2011 /PRNewswire-Asia-FirstCall/ --
Vimicro International Corporation (NASDAQ: VIMC) ("Vimicro" or the
"Company"), a leading multimedia semiconductor and solution
provider, today announced the promotions of Mr. Yundong (Raymond) Zhang to Chief Technology
Officer ("CTO"), Mr. Jun Zhu to
Senior Vice President, and Ms. Shuhua
(Yvonne) Yang to Acting Chief Financial Officer ("Acting
CFO"), effective June 15, 2011.
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The Company is today announcing these appointments as part of
its strategy to transform itself into a leading provider of
surveillance system-level solutions and semiconductor products.
In line with that strategy, Mr. Zhang, Senior Vice President
of the Company, has been appointed CTO and will be responsible for
leading all research and development activities, as well as
determining technology and product strategy for the security and
surveillance business. Since joining the Company in 2001, he
has demonstrated strong leadership in guiding the development of
Vimicro's multimedia-processor technology, the national SVAC
standard, and most recently, the security and surveillance
technology and business.
Mr. Jun Zhu, Vice President of
Engineering, has been promoted to Senior Vice President, in
recognition of the leading role he played in developing the
PC-camera business. Since he joined the Company in 2000, he
has served as engineering director, head of IC engineering, and
Vice President of Engineering.
Ms. Yang, Financial Controller of the Company, has been promoted
to Acting CFO due to her strong performance as Financial Controller
since 2010. She replaces Jack
Guo, who recently left the Company due to personal
reasons.
Ms. Yang has over 15 years of accounting and financial
management experience at U.S.-listed companies and international
accounting firms, including NASDAQ-listed Aspen Technology Inc.,
NYSE-listed Harris Corporation, and at Deloitte Touche Tohmatsu in
China. She has been a member of the Association of Chartered
Certified Accountants since 2001. She received an MBA degree
from McMaster University in
Canada and a bachelor's degree in
economics from Renmin University in China.
The Company is currently engaged in completing its annual report
to be filed on Form 20-F and will file the report as soon as
practicable.
"I am pleased to announce the promotions of Raymond, Jun, and
Yvonne, who have demonstrated outstanding leadership, management
ability, and passion for working at Vimicro," commented Dr.
John Deng, Vimicro's Chairman and
Chief Executive Officer. "I am confident in the ability of
these three individuals to contribute in the further growth of our
Company."
About Vimicro International Corporation
Vimicro International Corporation is a leading multimedia
semiconductor and solution provider that designs, develops and
markets mixed-signal semiconductor products and system-level
solutions that enable multimedia capabilities in a variety of
products for the consumer electronics and communications markets.
Vimicro is also expanding business into the surveillance market
with system-level solutions and semiconductor products. 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: the company's ability to develop and sell
new mobile multimedia products; the expected growth of the mobile
multimedia market; the company's ability to increase sales of
notebook camera multimedia processors; the company's ability to
retain existing customers and acquire new customers and respond to
competitive market conditions; the company's ability to respond in
a timely manner to the evolving multimedia market and changing
consumer preferences and industry standards and to stay abreast of
technological changes; the company's ability to secure sufficient
foundry capacity in a timely manner; the company's ability to
effectively protect its intellectual property and the risk that it
may infringe on the intellectual property of others; and
cyclicality of the semiconductor industry. Further information
regarding these and other risks is included in Vimicro's 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 the date
hereof, and Vimicro undertakes no duty to update such information,
except as required under applicable law.
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Company
Contact:
Vimicro International
Corporation
Mr. Anan Liu, Investor Relations
Manager
Phone: +86 (10) 6894 8888 ext.
7453
E-mail:
liuanan@vimicro.com
Ms. Sandy Song, IR Associate
Manager
Phone: +86 (10) 6894 8888 ext.
7401
E-mail:
songzheng@vimicro.com
www.vimicro.com
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Investor
Contact:
CCG Investor
Relations
Mr. John Harmon, CFA, Sr.
Account Manager
Phone: +86 (10) 6561-6886 ext.
807 (Beijing)
E-mail: john.harmon@ccgir.com
Mr. Roger Ellis, Senior Partner
& SVP for M.I.
Phone: +1 (310) 954-1332 (Los
Angeles)
E-mail:
roger.ellis@ccgir.com
www.ccgir.com
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SOURCE Vimicro International Corporation