SHENZHEN, China, Feb. 28, 2012 /PRNewswire/ -- Nam Tai Electronics, Inc. ("Nam Tai" or the "Company") (NYSE Symbol: NTE) today announced that Mr. Yeoh Teck Hooi, Colin ("Mr. Yeoh") has resigned as Chief Executive Officer (CEO) of the Company with immediate effect due to personal reasons. After the resignation of Mr. Yeoh as CEO, Mr. M.K. Koo ("Mr. Koo") was appointed as Acting Chief Executive Officer of the Company with immediate effect.
Mr. Koo, a founder of the Nam Tai Group, currently serves as executive Chairman and Chief Financial Officer of Nam Tai. The Board of Directors is confident that Mr. Koo can take on the position of Acting Chief Executive Officer to support the continuous growth of the Company.
The Company will use its best endeavours to identify a suitable candidate to fill the vacancy as soon as practicable and will make a further announcement upon appointment of a new Chief Executive Officer.
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 modules, FPC subassemblies and image-sensor modules and PCBAs. 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. Nam Tai Electronics, Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol "NTE"). All the Company's operations are located in the People's Republic of China. Please refer to the Nam Tai website ( www.namtai.com) or the SEC website ( www.sec.gov) for Nam Tai press releases financial statements.