David Lee, Former CFO, Assumes Role as Chairman of the Board Nan-Horng Yeh, Actions' CEO, and Fred Chen, Educator and Businessman, Added to the Board ZHUHAI, China, Oct. 30 /Xinhua-PRNewswire/ -- Actions Semiconductor Co., Ltd. (NASDAQ:ACTS), one of China's leading fabless semiconductor companies, today announced that Patricia Chou, Vice President of Finance, has been promoted to the position of chief financial officer as David Lee assumes the role of chairman of the board as part of the company's succession plan. In addition, the Board appointed Nan-Horng Yeh and Fred Chen as directors.
"We are pleased to promote Patricia to a position that takes full advantage of her skill set and financial management expertise," stated Mr. Nan-Horng Yeh, CEO of Actions Semiconductor. "Patricia has consistently demonstrated her readiness to assume the CFO position during her tenure at the company, and I am confident that she will be a strong addition to the executive team. Patricia's impressive track record in her prior positions has demonstrated her competence in executing on a wide variety of business fundamentals." Chou has served as Vice President of Finance since joining Actions in November 2006. As VP of Finance at Actions, Chou oversaw a finance team that remotely managed seven operation sites and executed major corporate finance projects. Starting in 2001, Chou served as the Director of Business Development and then Senior Director of Accounting at SMIC (Semiconductor Manufacturing International Corporation), where she was responsible for establishing a U.S. presence, developing new business initiatives, and leading the company's global accounting functions. She also participated in raising $650 million in private funds and the company's $1.6 billion NYSE-listed IPO. From 1996 to 2001, Patricia was the Director of Accounting and Planning of Winbond Electronics Corporation U.S. operation. Prior to that, Chou worked as a financial auditor in Taiwan, Hong Kong, and the United States with Deloitte. Chou received a Bachelor of Business Administration from National Taiwan University, Master of Accounting from University of Southern California, and Master of Business Administration from University of California at Berkeley, she is also a Certified Public Accountant in Taiwan, the United States, and China.
David Lee is stepping down from the chief financial officer position to pursue personal interests and will assume the role of chairman of the board. Lee has served as CFO at Actions since joining the company in August 2005.
"We welcome Nan, David and Fred to Actions' Board of Directors," stated Tzu-Yin Chiu, Director of Action's Board. "The Board looks forward to Nan's participation and guidance. Additionally, we are pleased to continue to benefit from David's experience as he assumes the role of chairman. David has been instrumental in Actions' success and we look forward to his continued contributions." "I am also delighted to announce that Fred Chen has been appointed as an independent director on our board," continued Mr. Chiu. "We welcome Fred's wealth of technical knowledge and anticipate that he will be a valuable asset to the board of directors." Professor Fred Chen currently serves as the Director of the OLED Laboratory, Display Institute, National Chiao Tung University in Hsinchu, Taiwan and as the Director of the Centre for Advanced Luminescence Materials (CALM) at Hong Kong Baptist University. He previously worked in the Display Technology Laboratory of Eastman Kodak Co., Rochester, New York, U.S., first as senior scientist and later, a group leader for more than 25 years engaging in the development of various novel displays and materials related to imaging technologies. He is a co-inventor of the key Doped OLED Guest-Host Emitter Technology and has been awarded more than 35 U.S. patents on his novel optoelectronic materials work.
The additions to the board of directors are in conjunction with the departures of Byung-Jin Kang, Chairman, and Hui-Dong Tien, Director, from the board of directors. Mr. Kang and Mr. Tien resigned to devote more time to other activities. With these changes, the number of members on board of directors increased from six to seven.
About Actions Semiconductor Actions Semiconductor is one of China's leading fabless semiconductor companies that provides mixed-signal and multimedia SoC solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components and the providers of those components. Actions Semiconductor also provides total product and technology solutions that allow customers to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The company is headquartered in Zhuhai, China, with offices in Beijing and Shenzhen. For more information, please visit the Actions Semiconductor website at http://www.actions-semi.com/.
For More Information Lisa Laukkanen
The Blueshirt Group for Actions Semiconductor
+1-415-217-4967 Chung Hsu
Investor Relations at Actions
+86-756 3392 353 *1015
DATASOURCE: Actions Semiconductor Co., Ltd.
CONTACT: Lisa Laukkanen of The Blueshirt Group, +1-415-217-4967, , for Actions Semiconductor; or Chung Hsu, of Actions Semiconductor Investor Relations, +86-756 3392 353 *1015, Web site: http://www.actions-semi.com/
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