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TheStreet Open House

AutoNavi Announces Management Changes

BEIJING, Jan. 31, 2011 (GLOBE NEWSWIRE) -- AutoNavi Holdings Limited ("AutoNavi" or the "Company") (Nasdaq:AMAP), a leading provider of digital map content and navigation and location-based solutions in China, today announced the following management changes:

  • Mr. Jun Xiao, a co-founder of AutoNavi who has served as the Company's senior vice president of sales and marketing since April 2002 and Chief Operating Officer (COO) since October 2009, has resigned from those positions for personal reasons, effective immediately, but will continue to serve as a director of the Company;  
  • Mr. Yongqi Yang, the Company's Chief Technology Officer (CTO) since March 2007, has transitioned from his position as CTO to executive vice president of AutoNavi's automotive business and will assume Mr. Jun Xiao's former primary responsibilities;  
  • Mr. Hai Cui will succeed Mr. Yang as the Company's new CTO, effective on February 9, 2011.

Upon the completion of these management changes, AutoNavi will no longer keep the position of COO as part of its senior management structure.

AutoNavi's Chief Executive Officer Mr. Congwu Cheng commented, "As a co-founder, senior vice president of sales and marketing and later on as the Company's COO, Jun was a key driver of our automotive business. Through his deep expertise and extensive experience, he helped enhance our automotive business capabilities tremendously. We thank him for his years of dedicated service as an executive officer and look forward to continuing to work with him in his capacity as director."

Mr. Cheng continued, "I am also pleased to announce the appointment of Yongqi as the executive vice president of our automotive business. As CTO, Yongqi made significant contributions across all three business lines, helping us secure our leadership position in digital map content and location-based solutions in China. In his new role, he will leverage his vast knowledge by leading our automotive navigation business, as we continue to build out our connected navigation services platform. Through his years of experience working in both technology start-ups and large multi-national technology companies, Yongqi has cultivated a unique blend of innovation and technical expertise that will serve him well in his new position."

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