China Digital TV Announces Resignation and Appointment of
Independent Director
BEIJING, Dec. 24, 2012 /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 the Company's Board
of Directors (the "Board") has accepted the resignation of
independent director Mr. Ching Wah
Ng due to personal reasons. Mr. Ng's resignation is
effective December 31, 2012.
Following Mr. Ng's resignation, Mr. Eric
Xu has been appointed as an independent director effective
December 31, 2012.
"I would like to thank Mr. Ng for the important contributions he
has made to China Digital TV during his tenure, and we wish him all
the best in the future," Mr. Jianhua
Zhu, China Digital TV's chairman and chief executive
officer, commented. "We are delighted that Mr. Xu is joining the
Board and are sure his rich business leadership and management
experience in the financial and consulting industries will be a
huge asset to China Digital TV. I look forward to working closely
with Mr. Xu and the rest of the Board in the future."
Mr. Xu is a Chartered Financial Analyst and currently serves as
the managing director for the China Aerospace Industry Investment
Fund. From October 2005 to
October 2010, Mr. Xu served as the
Principle of SAIF Partners and, prior to that, as a consultant at
Boston Consulting Group and an associate at A.T. Kearney Inc. Mr.
Xu graduated from Harvard Business
School with an MBA degree, and holds a BA in economics from
Peking University.
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 Contact:
In China:
Nan Hao
Investor Relations Manager
Tel: +86-10-6297-1199 x 9780
Email: ir@chinadtv.cn
Josh
Gartner
Brunswick
Group
Tel:
+86-10-5960-8610
Email: chinadigital@brunswickgroup.com
In the US:
Patricia Graue
Brunswick Group
Tel: +1-415-671-7676
E-mail: chinadigital@brunswickgroup.com
SOURCE China Digital TV Holding Co., Ltd.