Pactera Announces Resignation of CFO
BEIJING, Aug. 19, 2013
BEIJING, Aug. 19, 2013 /PRNewswire/ -- Pactera Technology International Ltd.
(Nasdaq: PACT) ("Pactera" or the "Company"), a global consulting and
technology services provider strategically headquartered in China, today
announced that Sidney Huang, Chief Financial Officer, will be leaving the
Company effective September 15, 2013, to accept a senior executive position at
a leading player in the fast-growing Internet sector in China. Upon Mr.
Huang's departure, Helena Chen, the Company's Senior Vice President and
Corporate Controller, will serve as the interim CFO until a successor is
named. To ensure a smooth transition, Mr. Huang will remain as an advisor to
the Company for an extended period after the initial transition.
"We are sorry to see Sidney leave but happy for him to have this unique career
opportunity," Mr. Tiak Koon Loh, Chief Executive Officer of Pactera, stated,
"Sidney has made many significant and milestone contributions to bring VIT and
thereby PACT to where we are today. We salute him and thank him from the
bottom of our heart."
Mr. Huang stated, "It's been an honor to have served Pactera and the former
VanceInfo over the past 7 years. Pactera has a bright future, and I wish the
team all the best."
Ms. Chen joined the Company in 2007 and has taken the role of Corporate
Controller since 2008. She was promoted to Vice President of Finance in 2011
and Senior Vice President of Finance in 2012. From 2001 to 2007, Ms. Chen
worked as an auditor at Deloitte Touche Tohmatsu in Beijing.
Pactera Technology International Ltd. (NASDAQ: PACT), formed by a merger of
equals between HiSoft Technology International Limited and VanceInfo
Technologies Inc., is a global consulting and technology services provider
strategically headquartered in China. Pactera provides world-class business /
IT consulting, solutions, and outsourcing services to a wide range of leading
multinational firms through a globally integrated network of onsite and
offsite delivery locations in China, the United States, Europe, Australia,
Japan, Singapore and Malaysia. Pactera's comprehensive services include
business and technology advisory, enterprise application services, business
intelligence, application development & maintenance, mobility, cloud
computing, infrastructure management, software product engineering &
globalization, and business process outsourcing.
For more information about Pactera, please visit www.pactera.com.
Safe Harbor: Forward-Looking Statements
This news release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended, and as defined in 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,"
"target," "going forward," "outlook" and similar statements, as well as the
consideration of the going private proposal and the impact on the Company
resulting from the success or failure of that proposal. Such statements are
based upon management's current expectations and current market and operating
conditions, and relate to events that involve known or unknown risks,
uncertainties and other factors, all of which are difficult to predict and
many of which are beyond Pactera's control, which may cause Pactera's actual
results, performance or achievements to differ materially from those in the
forward-looking statements. Potential risks and uncertainties include, but are
not limited to, the Company's dependence on a limited number of clients for a
significant portion of its revenues, uncertainty relating to its clients'
forming or plan to form joint venture with the Company's competitors, the
economic slowdown in its principal geographic markets, the quality and
portfolio of its service lines and industry expertise, and the availability of
a large talent pool in China and inflation of qualified professionals' wages,
as well as the PRC government's investment in infrastructure construction and
adoption of various incentives in the IT service industry. Further information
regarding these and other risks, uncertainties or factors is included in
Pactera's filings with the U.S. Securities and Exchange Commission. All
information provided in this news release is as of the date of this news
release, and Pactera does not undertake any obligation to update any
forward-looking statement as a result of new information, future events or
otherwise, except as required under applicable law.
For further information, please contact:
Pactera Technology International Ltd.
Tel: +86-10-5987 5138
SOURCE Pactera Technology International Ltd.
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