RDA Microelectronics' Board Elects Shun Lam Steven Tang as the New Chairman and Appoints Shuran Wei as the New CEO and Liang ...
December 16 2013 - 8:01PM
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.
Forward-Looking Statements
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.
+86-21-5027-1108
ir@rdamicro.com
or
Leanne Sievers, EVP
Shelton Group Investor Relations
949-224-3874
lsievers@sheltongroup.com
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