Nam Tai Electronics CFO resigns
By The Associated Press
China-based Nam Tai Electronics Inc. said Friday that its acting chief financial officer had resigned and been replaced by a former executive of the company.
Chan Sze Chung resigned as CFO and became vice CFO effective last Sunday, the company said.
M.K. Koo was appointed CFO and an executive chairman, also effective last Sunday. Koo is a founder of the Nam Tai Group and has served various senior executive roles with Nam Tai.The company, based in Macau, makes LCD panels and other components for telecommunications and consumer-products manufacturers. Nam Tai's chief executive resigned in November after the company reported that third-quarter profit and revenue dropped sharply due to weakness in the telecommunications market. He cited family reasons for quitting. U.S.-traded shares rose 3 cents to $3.08 in late-afternoon trading.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV