TAIPEI, Nov. 24,
2023 /PRNewswire/ -- GigaMedia Limited (NASDAQ: GIGM)
today announced that its Board of Directors has appointed
Chih-Hong Tsai (a.k.a. John J.H. Tsai) and Wan-Wan Lin as new independent non-executive
directors upon the departure of Casey
Kuo-Chong Tung and Billy Bing-Yuan
Huang, who have resigned and retired from the Board. The
resignations of Mr. Tung and Mr. Huang were accepted by the
Board of Directors and effective on November
23, 2023.
Chih-Hong Tsai obtained a Master
degree of Science in Management from MIT Sloan
School of Management and a Ph.D. degree in Finances from
College of Management of National Taiwan University.
Mr. Tsai has more than 40 years of experiences in financial
sector. He served as president of CTBC Finance Co., Ltd.,
senior vice president of CTBC Bank Co., Ltd., president of IBT
Leasing Co., Ltd., and senior executive vice president/chief risk
officer of Chailease Finance Co., Ltd. & Chailease
International Financial Leasing Corp, among other executive and
senior management positions. Mr. Tsai currently serves as an
Adjunct Professor of Department and Graduate Institute of Finance,
College of Management of National Taiwan University, and a director
of SinoPac Leasings Corp.
Wan-Wan Lin obtained a Bachelor
degree in Accounting from National Taiwan University, a Master
degree in Accounting from University of
Illinois at Urbana-Champaign, and an EMBA degree from
National Taiwan University.
Ms. Lin holds licenses of CPA in Taiwan and in the
United States, and has practiced audit for more than 30
years. Ms. Lin specializes in the fields of technology/media
industry, financial services and biotech & healthcare. She
served as the CEO of KPMG in Taiwan, a board member of KPMG Sustainability
Foundation, and a consultant of Financial Accounting Issues Task
Force in R.O.C. Accounting Research and Development Foundation,
among other professional and managing positions. Besides practicing
as a CPA, currently Ms. Lin also serves as an Adjunct Professor
Rank Specialist of National Taiwan University.
The Board of GigaMedia thanks Casey
Kuo-Chong Tung and Billy Bing-Yuan
Huang for their years of services to the Company, and
welcomes the joining of Chih-Hong
Tsai and Wan-Wan Lin.
Effective on the same date, Mr. Tsai and Ms. Lin were both
appointed to be members of the audit committee, while Ms. Lin were
also appointed to be a member of the compensation committee and
elected to assume the role of chairman of the audit committee,
taking over from Mr. Tung.
Following the changes announced today, GigaMedia's Board
continues to be comprised of six members with more than a majority
as independent directors.
About GigaMedia
Headquartered in Taipei,
Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is
a diversified provider of digital entertainment services in
Taiwan and Hong Kong. GigaMedia's digital entertainment
service business is an innovative leader in Asia with growing capabilities of development,
distribution and operation of digital entertainments, as well as
platform services for games with a focus on mobile games and casual
games. More information on GigaMedia can be obtained from
www.gigamedia.com.tw.
The statements included above and elsewhere in this press
release that are not historical in nature are "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. GigaMedia
cautions readers that forward-looking statements are based on the
Company's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those
contained in such forward-looking statements. Information as to
certain factors that could cause actual results to vary can be
found in GigaMedia's Annual Report on Form 20-F filed with the
United States Securities and Exchange Commission in April 2023.
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SOURCE GigaMedia