Nam Tai Electronics, Inc. -- Change In Personnel
HONG KONG, Nov. 12, 2010 /PRNewswire-FirstCall/ -- Nam Tai Electronics, Inc. (" Nam Tai" or the "Company") (NYSE Symbol: NTE) today announced that subsequent to the announcement on November 1, 2010 regarding the appointment of Mr. Joseph Li as Chief Financial Officer of the Company in October 2010, due to an unexpected, serious health condition of the wife of Mr. Li, he has to return to his home in Canada immediately to take care of her for an indefinite period of time, and therefore has no alternative but to resign as Chief Financial Officer of the Company with immediate effect.
After the resignation of Mr. Li as Chief Financial Officer, Mr. M.K. Koo will resume the position of Chief Financial Officer of the Company as before with immediate effect and at the same time also act as the Chairman of the Company.
The management of the Company considers that such a change in personnel will have no impact on the Company. In view of the brief period of time Mr. Li acting as Chief Financial Officer, and the prompt reinstatement of the original Chief Financial Officer, there will be no interruption to the normal course of the management of the Company.
ABOUT NAM TAI ELECTRONICS, INC.We are an electronics manufacturing and design services provider to a select group of the world's leading OEMs of telecommunications, consumer electronic, medical and automotive products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD panels, LCD modules, RF modules, DAB modules, FPC subassemblies and image-sensor modules and PCBAs for headsets containing Bluetooth® wireless technology.(1) These components are used in numerous electronic products, including mobile phones, laptop computers, digital cameras, electronic toys, handheld video game devices, and entertainment devices. We also manufacture finished products, including mobile phone accessories, home entertainment products and educational products. We assist our OEM customers in the design and development of their products and furnish full turnkey manufacturing services that utilize advanced manufacturing processes and production technologies.
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