Dec. 30, 2011
VisionChina Media Inc. ("VisionChina Media" or the "Company") (Nasdaq: VISN), one of
's largest out-of-home digital television advertising networks on mass transportation systems, today announced changes to the Company's board of directors. Mr.
have been appointed as independent directors and Ms. Xisong Tan's independent director agreement was renewed. Ms. Tan will continue to be an independent director of the Company's board of directors. Mr. Wong, Mr. Shih and Ms Tan will make up the audit committee of the board of directors and Mr.
has been appointed chairman of audit committee. The Company also announced that Mr.
have stepped down from their positions as independent directors following the expirations of their current tenures but both have agreed to act as senior consultants to the Company.
, chairman and chief executive officer of VisionChina Media commented, "I would like to thank Ms. Tan for her continued dedication to VisionChina Media and welcome Mr. Wong and Mr. Shih to the board as independent directors. The collective extensive experience of these three professionals will undoubtedly bring significant value to the Company. At the same time, we are grateful to Mr. Decker and Ms. Lou for their service to VisionChina Media as independent directors and look forward to their continued contributions in their new roles as senior consultants."
has served as chief financial officer of GreenTree Inns Hotel Management Group, Inc. ("GreenTree") since
. He has also served as an independent non-executive director of Besunyen Holding Company Limited, a company listed on the Main Board of the Hong Kong Stock Exchange (Stock Code: 926) since
, he was chief financial officer of Asia New Energy Holding Pte. Ltd., and from
, he was chief financial officer of Nobao Renewable Energy Holdings Limited. From 1982 to 2008, Mr. Wong worked for Deloitte Touche Tohmatsu, in
over various periods of time, most recently as a partner in the
office. Mr. Wong received bachelor's degree in applied economics from the
University of San Francisco
and a higher diploma of accountancy from Hong Kong Polytechnic University. He is a member of the American Institute of Certified Public Accountants and the Hong Kong Institute of Certified Public Accountants.
has served as deputy chairman and group strategy officer at Stella International Holdings Limited, a company listed on the Main Board of the Hong Kong Stock Exchange (Stock code: 1836) since
. His main responsibilities there include business strategy, leadership development and retail business operations. From
, Mr. Shih served as chairman of PepsiCo (
) Investment Ltd., and president of the
region for PepsiCo's Beverages Business Unit, where he was responsible for managing joint-ventures, mergers and acquisitions and day-to-day operations for the unit. From 2003 to 2006, Mr. Shih was president of Motorola (
) Electronic Ltd., where he was responsible for setting, managing and executing on the growth strategy for Motorola in
. Mr. Shih received a master of science in electrical engineering from the
University of Cincinnati
in 1977 and a bachelor of science in electrical engineering from Tatung Institute of Technology in 1974. In
, Mr. Shih received an honorary doctorate in commerce from the
University of West Alabama
the United States
and was elected vice chairman of the United World Chinese Association. He is a frequent guest speaker at MBA and EMBA programs at
University, Tsinghua University and Nankai University.
About VisionChina Media Inc.
VisionChina Media Inc. (Nasdaq: VISN) operates an out-of-home advertising network on mass transportation systems, including buses and subways. As of
September 30, 2011
, VisionChina Media's advertising network included 136,777 digital television displays on mass transportation systems in 20 of
's economically prosperous cities, including
. VisionChina Media has the ability to deliver real-time, location-specific broadcasting, including news, stock quotes, weather and traffic reports, and other entertainment programming. For more information, please visit
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. Among other things, the quotations from management in this press release contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1 and its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.