UTStarcom Holdings, a provider of interactive, IP-based
network solutions in iDTV, IPTV, internet TV and broadband for cable and
telecom operators, announced the appointment of Jack Lu, chief executive
officer of UTStarcom, as chairman of the Board, effective March 31, 2012.
Lu will succeed Thomas Toy, who has resigned as a member
and chairman of the Board, effective March 31, 2012. Toy will remain with the
company in an advisory role for a period of six months following the effective
date of his resignation.
“Tom has been a trusted partner and a dedicated and
valued Board member. I am very pleased that as an advisor, the Company will
continue to benefit from Tom’s global vision and experience. Moreover, the
three months we will have before the formal change will allow for a seamless
transition, and reflects the importance we place on long-term planning, good
governance and transparency,” Lu added.
The board also appointed Xiaoping Li, an independent
director of UTStarcom, as its lead director, and Tianruo (Robert) Pu, an
independent director of UTStarcom, as its chairman of
audit committee effective March 31, 2012 to replace Thomas Toy on both roles.
Director William Wong tendered his resignation as a
member of the Board, effective December 31, 2011.
By Telecomlead.com Team