RDA Microelectronics' Board Elects Shun Lam Steven Tang as the New Chairman
and Appoints Shuran Wei as the New CEO and Liang Zhang as President
SHANGHAI, China, Dec. 17, 2013 (GLOBE NEWSWIRE) -- RDA Microelectronics, Inc.
(Nasdaq:RDA) ("RDA Microelectronics" or the "Company"), a fabless
semiconductor company that designs, develops and markets wireless
systems-on-chip and radio-frequency (RF) semiconductors for cellular,
connectivity and broadcast applications, today announced that its Board of
Directors (the "Board") has elected Mr. Shun Lam Steven Tang as Chairman of
the Board, appointed Mr. Shuran Wei as Chief Executive Officer of the Company
and appointed Mr. Liang Zhang as President of the Company.
Mr. Tang succeeds Mr. Vincent Tai, who will remain as a non-executive director
until the next shareholders meeting.The election of Mr. Tang as Chairman of
the Board, the appointments of Mr. Wei as Chief Executive Officer and Mr.
Zhang as President of the Company will take effect on December 17, 2013.
Mr. Tang said, "On behalf of the Board, I want to thank Vincent Tai for his
contribution to RDA during his term as the Chairman and Chief Executive
Officer.Moving forward, I will be focused on working closely with my fellow
directors and our outstanding management team to continue to execute our
business strategy and protect and enhance shareholders value, and I am excited
by the substantial prospects in front of us after completing the announced
merger with Tsinghua Unigroup."
"Liang and I are honored by the confidence that the Board of Directors have
placed in us and humbly accept the Board's appointments," said Mr. Wei, Chief
Executive Officer of RDA Microelectronics, "We are committed to working hard
with the rest of the management team and our excellent employees and business
partners to take RDA's products and technology up to the next level."
Mr. Tang has been a director of the Company since 2011 and was its senior vice
president of operations from 2010 to 2012.Prior to joining our company, Mr.
Tang was chief executive officer of Coolsand Technology Holdings Limited
between 2008 and 2009.He also served as the non-executive chairman for
Linefan Technology Holding Limited, a Hong Kong listed company, between 2008
and 2009.Mr. Tang was the president, Asia Pacific for Viasystems Group, Inc.,
a company listed on the New York Stock Exchange, from 1999 to 2007.From 2003
to 2005, Mr. Tang was also an independent director and the chairman of the
Finance and Audit Committee of Wanji Pharmaceutical Holdings Limited, a Hong
Kong listed company.He was managing director for Pace Inc. between 1995 and
1999.He received a Bachelor of Science degree in electrical and electronics
engineering from Nottingham University in England and an MBA in economic
forecasting from Bradford University in England.
Mr. Wei is a co-founder of the Company and has been the Company's Chief
Technology Officer since its inception in 2004 and a director since 2005.Mr.
Wei has almost two decades of experience in CMOS radio-frequency integrated
circuit design.Prior to co-founding RDA Microelectronics, he was a vice
president of Analogix Semiconductor Inc. in the United States from 2002 to
2004.From 1998 to 2002, he was an integrated circuit design manager at
Marvell Semiconductor Inc. in the United States, and from 1994 to 1998, he was
an integrated circuit design engineer at LSI Corporation (formerly known as
LSI Logic).Mr. Wei received a Bachelor of Science degree in physics from
Peking University in China and a Master of Science degree in electrical
engineering from the University of Minnesota in the United States.
Mr. Liang Zhang has been senior vice president of engineering of the Company
since 2004.Prior to joining the Company, Mr. Zhang was a design manager at
Analogix Semiconductor Inc. in the United States from 2002 to 2004.From 1999
to 2002, Mr. Zhang was a senior design engineer at Marvell Semiconductor Inc.
in the United States.Mr. Zhang received a Bachelor of Science degree in
microelectronics from Tsinghua University in China and a Master of Science
degree in electrical and computer engineering from North Carolina State
University in the United States.
About RDA Microelectronics
RDA Microelectronics is a fabless semiconductor company that designs, develops
and markets wireless system-on-chip and radio-frequency semiconductors for
cellular, connectivity and broadcast applications. The Company's product
portfolio currently includes baseband, radio-frequency front-end modules,
power amplifiers, transceivers, Bluetooth system-on-chip, Wi-Fi, Bluetooth and
FM combo chips, FM radio receivers, set-top box tuners, analog mobile
television receivers, CMMB mobile television receivers, walkie-talkie
transceivers and LNB satellite down converters. For additional information,
please see the Company's website at http://www.rdamicro.com.
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" and similar statements. Any
statements in this press release that are not historical facts are
forward-looking statements that involve factors, risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. Such factors and risks include the Company's
anticipated growth strategies; its future results of operations and financial
condition; impact of currency volatility in emerging markets; economic
conditions in China; the regulatory environment in China; the Company's
ability to attract customers and leverage its brand; trends and competition in
the semiconductor industry; migration to new technology; the entry into
baseband, new TV and display market and other factors and risks detailed in
the Company's filings with the Securities and Exchange Commission. This press
release also contains statements or projections that are based upon
information available to the public, as well as other information from sources
which the Company believes to be reliable but whose accuracy or completeness
the Company cannot guarantee. The Company undertakes no obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, unless required by applicable law.
CONTACT: Lily Dong, Chief Financial Officer
RDA Microelectronics, Inc.
Leanne Sievers, EVP
Shelton Group Investor Relations
RDA Microelectronics, Inc. logo
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