China Digital TV Announces Changes to Board of Directors
BEIJING, Nov. 15, 2013
BEIJING, Nov. 15, 2013 /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 HsiangMing(James) Hohas resigned from the
Company's Board of Directors ("the Board") effectiveNovember13, 2013. The
Board and the Nomination Committee of the Board have appointedAndrew Y.Yan
as a director of the Board to replace Mr. Ho, effectiveNovember 13,2013.
"I would like toexpressmygratitude toMr.Hofor the greatcontributions he
has made tothe development ofChina Digital TV during his service,"commented
JianhuaZhu, China Digital TV's chairman and chief executive officer. "We are
also delighted thatMr.Yanis joining our Boardof Directorsand
believehisrichbusiness management and investment experiencewill be a
tremendous asset toChina Digital TV. I look forward to working closely
withMr.Yanand the rest of the Board in the future."
Mr. Yan is the Founding Managing Partner of the private equity firm SAIF
Partners. Prior to that, Mr. Yan was the Managing Director and Head of the
Hong Kong Office of the Emerging Markets Partnership and has also worked as an
Economist, Research Fellow and Director for Asia respectively at a number of
organizations, including The World Bank, the Hudson Institute and U.S. Sprint
Co. He also served as Chief Engineer with Jianghuai Airplane Corporation.
Currently, Mr. Yan is a member of the board of directors of several companies,
including Fosun International Ltd., Guodian Technology & Environment Group
Corporation Ltd., and China Huiyuan Juice Group Ltd. Mr. Yan received a
bachelor's degree in engineering from Nanjing Aeronautic Institute and a
Master of Arts degree from Princeton University in International Political
Mr. Ho, who serves as vice president for Capital International Inc., joined
the Board on May 7, 2007 following an investment by Capital International Inc.
in China Digital TV. Mr. Ho resigned from the Board following Capital
Investment Inc.'s sale of its entire stake in the Company on November 5, 2013
to entities controlled by Mr. Zhu and Zengxiang Lu, a co-founder of China
Digital TV and a member of the Board, respectively.
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 U.S.:
Tel: +1-212-333 3810
SOURCE China Digital TV Holding Co., Ltd.
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