China Digital TV Announces Resignation and Appointment of Independent Director
BEIJING, Dec. 24, 2012
BEIJING, Dec. 24, 2012 /PRNewswire/ -- China Digital TV Holding Co., Ltd.
(NYSE: STV) ("China Digital TV" or the "Company"), the leading provider of
conditional access ("CA") systems to China's expanding digital television
market, today announced that the Company's Board of Directors (the "Board")
has accepted the resignation of independent director Mr. Ching Wah Ng due to
personal reasons. Mr. Ng's resignation is effective December 31, 2012.
Following Mr. Ng's resignation, Mr. Eric Xu has been appointed as an
independent director effective December 31, 2012.
"I would like to thank Mr. Ng for the important contributions he has made to
China Digital TV during his tenure, and we wish him all the best in the
future," Mr. Jianhua Zhu, China Digital TV's chairman and chief executive
officer, commented. "We are delighted that Mr. Xu is joining the Board and are
sure his rich business leadership and management experience in the financial
and consulting industries will be a huge asset to China Digital TV. I look
forward to working closely with Mr. Xu and the rest of the Board in the
Mr. Xu is a Chartered Financial Analyst and currently serves as the managing
director for the China Aerospace Industry Investment Fund. From October 2005
to October 2010, Mr. Xu served as the Principle of SAIF Partners and, prior to
that, as a consultant at Boston Consulting Group and an associate at A.T.
Kearney Inc. Mr. Xu graduated from Harvard Business School with an MBA degree,
and holds a BA in economics from Peking University.
About China Digital TV
Founded in 2004, China Digital TV is the leading provider of CA systems to
China's expanding digital television market. CA systems enable television
network operators to manage the delivery of customized content and services to
their subscribers. China Digital TV conducts substantially all of its business
through its PRC subsidiary, Beijing Super TV Co., Ltd., and its affiliate,
Beijing Novel-Super Digital TV Technology Co., Ltd., as well as subsidiaries
of its affiliate.
For more information please visit the Investor Relations section of China
Digital TV's website at http://ir.chinadtv.cn.
Investor Relations Manager
Tel: +86-10-6297-1199 x 9780
In the US:
SOURCE China Digital TV Holding Co., Ltd.
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