This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Yichin Lee Appointed CEO Of GigaMedia

HONG KONG, March 20, 2011 /PRNewswire-Asia/ -- GigaMedia Limited (Nasdaq: GIGM) announced today the appointment of Yichin Lee as its new CEO, replacing Arthur Wang who is retiring after leading GigaMedia for the last seven years.

Mr. Lee, who joined GigaMedia's board as an independent director in September 2003, has over two decades of management consulting and operational experience – a strong and deep track record of successfully guiding and building international technology businesses. He will assume the role of CEO effective immediately.

Mr. Wang will remain on the board of directors and serve as a special advisor to the new CEO.

"With Yichin as our new CEO, I retire with full confidence in GigaMedia's future. He is the complete package. He has all the skills and experience to take Giga to the next level," stated Arthur Wang. "It has been a great honor to lead Giga for the past seven years, to drive our transformation from a broken ISP to our position today as a leading online entertainment firm, with top content generation and a platform that spans across North and South Asia – plus our large equity position in the Everest poker and casino platform."

" Yichin Lee is the perfect combination for GigaMedia: both a strategic thinker and a veteran technology executive," stated GigaMedia Chairman Michael Ding. "His energetic leadership style and experience in driving innovation and operational excellence will help GigaMedia leverage its strategic position and robust balance sheet to deliver strong growth."

"I am very excited to be taking on this new role at GigaMedia," stated new CEO Yichin Lee. "Arthur and I have worked hard together the past seven years and I am very grateful to him for all he's done to position GigaMedia for great success and long-term growth. We now have extraordinary opportunities to create value for our shareholders and I look forward to developing and driving an even stronger GigaMedia."

"On behalf of the whole board, I would like to thank Arthur Wang for his many contributions to the company's development over the years and for continuing to serve the company on the Board," stated Chairman Michael Ding. "His unwavering enthusiasm for GigaMedia, leadership and industry savvy make him an invaluable resource for the future."

About Yichin Lee

Yichin Lee has extensive experience both as a leader of technology driven businesses in Asia and as a management consultant. His previous operational, management and consulting engagements include a leading Internet trading platform for China's agricultural and commodity industries;  the Internet content operations and consulting services of regional telecom giant PCCW; as well as advisory and leadership positions on technology and transportation projects for Booz & Company. Previously he had also worked at McKinsey & Company in Greater China and Oracle Corporation in Silicon Valley. Mr. Lee is an alumnus of Stanford University, where he received both his Ph.D. and M.S. in Resource Planning and Management.  He earned a B.S. degree in Civil Engineering from National Taiwan University.

Board Changes Announced

The company also announced the appointment of Mo-Na Chien, John Huang and Nick Liu to the company's board as independent directors.

"Mo-Na, John and Nick are three of the most respected business executives in the region – we are very pleased and honored to add such strong talent to our board at such an important time in the development of our business," stated Chairman Michael Ding. "Their extensive business insight and strong leadership will help revitalize the board and guide us in the next stage of our growth."

Mr. Chien has led several top investment, finance, and technology firms. He is currently the chief advisor of investment firm Chailease Finance Co., Ltd., and honorary chairman of Taiwan-based Grand Pacific Investment & Development Co., Ltd., as well as chairman of electronic components firm J.K. Multilayer Technology Co., Ltd., and supervisor of the board of the Taiwan Stock Exchange-listed microelectronics firm Maxtek Technology Co., Ltd. Mr. Chien attended the MIT Sloan School of Management and holds a Bachelor of Arts degree from National Taiwan University.  

Mr. Huang is a prominent business leader with strong expertise in investment and finance. He is currently the chairman of Taiwan-based Grand Pacific Investment & Development Co., Ltd., as well as the firms Chailease Construction & Development Corp., Global Hospitality Group Inc., and Beijing He Qiao Property Management Co., Ltd. Mr. Huang holds a Bachelor of Arts degree from Taiwan's Soochow University.

Mr. Liu has extensive experience in the game industry. He was the managing director in Taiwan for a game development subsidiary of Activision Blizzard, one of the world's largest developers, publishers and distributors of interactive entertainment and leisure products. Mr. Liu holds an MBA degree from the Stern School of Business at NYU and a business degree from the University of Southern California.

Mr. Chien and Mr. Huang replace independent directors Gilbert Bao and Emmet Yu-Jui Hsu, who have each resigned from the company's board for personal reasons.

"We thank Gilbert and Emmet for their contributions to the board, for their valuable service, and wish them well in their future endeavors," stated Chairman Ding.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs