China Information Technology, Inc. Announces Resignation of Chief Financial
SHENZHEN, China, March 14, 2014
SHENZHEN, China, March 14, 2014 /PRNewswire/ -- China Information Technology,
Inc. ("CNIT" or the "Company") (Nasdaq: CNIT), a leading provider of
integrated cloud-based solutions including Internet-of-Things ("IoT"), public
InfoCloud, WeMedia platform, Smart City and other Internet-related services in
China, today announced that Mr. Daniel K. Lee, its Chief Financial Officer
("CFO"), has tendered his resignation as the Company's CFO for personal
reasons. Mr. Lee will remain with the Company for a transition period till
April 15, 2014. The Board of Directors of the Company will initiate a search
for his successor immediately.
"I am proud to be part of the management that helped CNIT in its move up the
IT value chain, first by synergizing the core competencies of its software and
hardware acquisitions, then transforming the company into a cloud-centric
business model, creating O2O, IoT, and other internet-related opportunities. I
wish CNIT continued success in e-innovation," commented Mr. Lee.
"Daniel has made important contributions to CNIT since he joined the Company
in December 2011. We thank him for his leadership in corporate strategy and
financial management during CNIT's business transformation and his dedication
to CNIT's shareholder value maximization during his tenure at CNIT. We wish
Daniel all the best in his future endeavors," stated Mr. Jianghuai Lin,
Chairman and Chief Executive Officer of CNIT.
About China Information Technology, Inc.
Headquartered in Shenzhen, China, China Information Technology, Inc., through
its subsidiaries and other consolidated entities, provides information
technologies and cloud-based business solutions in China. The Company's
cloud-based products include Smart EduCloud and Public InfoCloud; IT solutions
include geographic information systems (GIS), digital public security
technology (DPST), and hospital information systems (HIS). The Company's
integrated hardware, software, and cloud-based services serve a variety of
customers in the fields of government, education, medical, financial,
commercial, communication and individual consumers. To learn more about the
Company, please visit its corporate website at http://www.chinacnit.com.
Safe Harbor Statement
This press release includes certain statements that are not descriptions of
historical facts, but are forward-looking statements in nature within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements, often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions, involve
known and unknown risks and uncertainties. Although the Company believes that
the expectations reflected in these forward-looking statements are reasonable,
they do involve assumptions, risks and uncertainties, and these expectations
may prove to be incorrect. Investors should not place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic reports that are
filed with the Securities and Exchange Commission and available on its website
(http://www.sec.gov). All forward-looking statements attributable to the
Company or persons acting on its behalf are expressly qualified in their
entirety by these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking statements.
For further information, please contact:
China Information Technology, Inc.
Tel: +86 755 8370 4767
SOURCE China Information Technology, Inc.
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