TAIPEI, Taiwan, May 31, 2020 /PRNewswire/ -- Lorom Holding
Co., Ltd. ("Lorom" or the "Company"), a leading manufacturing
solutions provider focusing on specialized cable manufacturing and
assembly, today announced the appointment of Michael Yi-Hua Chung as Chief Executive Officer,
effective immediately. He will report directly to the Board.
Mr. Chung brings approximately 35 years of experience in
mission-critical component manufacturing with a proven track record
of effectively scaling companies in the industry. Previously, he
served as Chief Executive Officer at TPK Holding, a leading touch
panel provider based in Taiwan,
where he helped reposition the company successfully by maximizing
operational efficiencies, optimizing internal processes, managing
costs, enhancing free cash flow and strengthening relationships
with key customers. Prior to TPK, Mr. Chung spent 20 years at
Foxconn Technology Group's Hon Hai Precision Industry and led the
Integrated Digital Product Business Group (iDPBG), which was
responsible for manufacturing of the Apple iPhone with
approximately $30 billion in revenue
and 300,000 employees during his tenure.
"I am pleased to take on this role with a unique opportunity to
shape Lorom's future as the Company continues to build on its
global reputation and further establishes itself as a premier
supplier partner for specialty products," said Mr. Chung. "With the
support of a strong financial sponsor in Cornell Capital, I look
forward to leading the Lorom team to continue growing the business,
enhancing our customers' experience and delivering value to all of
our partners."
"Michael is a widely respected and seasoned industry leader, and
we are excited to welcome him to the Lorom team," said Joyce I-Yin
Hsu, Partner and the Head of Asia
for Cornell Capital and the Executive Vice Chairperson of Lorom's
Board of Directors. "He has deep operational and leadership
expertise as well as a clear vision and strategy for the Company's
continued evolution, making him ideally positioned to steer Lorom
through its next chapter of growth."
"We are confident that the business is positioned for continued
success under Michael's leadership," said Thomas Yuan, Chairman of Lorom's Board of
Directors. "Michael will drive Lorom's continuous growth and
transition Lorom from a family business into a fully
professionalized organization."
About Lorom
Founded in 1988, Lorom is a leading manufacturing solutions
provider focusing on specialized cable manufacturing and assembly.
In addition to its core cable technologies, Lorom offers plastic
injection, stamping, die-casting, printed circuit board assembly
and tooling processes. Lorom also possesses customized
component design and manufacturing capabilities. Its vertically
integrated model enables Lorom to provide a one-stop shopping
platform for unique, proprietary manufacturing products and
services to a blue-chip customer base, including a number of
Fortune 500 companies across automotive, industrial, media,
technology and medical sectors. Headquartered in Taipei, Taiwan, Lorom has approximately 6,000
employees, including more than 500 highly skilled engineers across
six factories and six sales offices globally. For more
information, visit www.lorom.com.
About Cornell Capital
Cornell Capital LLC is a U.S.-based private investment firm with
over $3.5 billion of AUM and offices
in New York and Hong Kong. Partnering with strong,
entrepreneurial management teams, the firm takes a value-oriented
approach to investing across the consumer, financial and industrial
sectors. Founder and Senior Partner Henry Cornell, who served as
the Vice Chairman of Goldman Sachs' Merchant Banking Division prior
to founding Cornell Capital in 2013, leads a highly-seasoned senior
leadership team with decades of shared investing experience. For
more information, visit www.cornellcapllc.com.
Media Contact
Lorom:
Benjamin Hsu
Lorom Group
+886-2-2706-2981 Ext. 181
www.lorom.com
Cornell Capital:
Julie
Oakes / Tim Ragones /
Kate Thompson
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Lorom Holding Co., Ltd.