March 5, 2012
iSoftStone Holdings Limited ("iSoftStone" or the "Company," NYSE: ISS), a leading
-based IT services and solutions provider, today announced that Ms.
resigned as an iSoftstone director effective
February 28, 2012
. Ms. He joined the iSoftstone Board in 2009 in connection with pre-IPO investments in the Company by SeaBright China Special Opportunities Fund II, L.P., and CSOF Technology Investments Limited. Ms Ling intends to pursue other interests and there are no outstanding disputes between the Company and Ms. Ling relating to iSoftstone's operations, policies or practices.
Mr. Benson Bing Chung Tam has rejoined as an independent Director on the iSoftStone Board of Directors with effect on
March 1, 2012
. Mr. Tam served as a pre-IPO iSoftStone director from 2007 until
. Mr. Tam will also serve on the Company's Audit Committee.
, iSoftStone's Chairman of the Board and Chief Executive Officer, said, "I thank Ms.
for her substantial Board contributions during her two-plus year tenure. Her judgment and guidance were helpful in successfully transitioning iSoftstone to a NYSE listed company."
"It is somewhat rare in any company to be able to welcome back a board member, so I am particularly pleased that Mr.
has agreed to rejoin us as an independent Director. Benson's previous contributions to the Board were considerable, so we are very thankful to again have his wise counsel and expertise on the Board."
Mr. Tam is a chartered accountant and prior to the Company's
IPO served on the Company's audit committee. From 2002 until
February 29, 2012
, Mr. Tam was a partner and head of technology investments at Fidelity Growth Partners Asia (formerly named Fidelity Asia Ventures). Prior to joining Fidelity Growth Partners Asia, Mr. Tam was a partner of Electra Partners Asia from 1998 to 2002, and was the founding director of Hellman & Friedman Asia from 1992 to 1998. Mr. Tam worked in M&A Corporate Finance at S.G. Warburg from 1989 to 1992.
About iSoftStone Holdings Limited
Founded in 2001, iSoftStone is a leading
-based IT services provider serving both greater
and global clients. iSoftStone provides an integrated suite of IT services and solutions including consulting & solutions, IT services, and business process outsourcing services. The company focuses on industry verticals that include technology, communications, banking, financial services, insurance, energy, transportation, and public sectors. iSoftStone's American depositary shares began trading on the New York Stock Exchange on
December 14, 2010
. For more information, please visit
iSoftStone Holdings LimitedMs.
Tel: +86 10 5874 9292Email:
iSoftStone Holdings LimitedMr.
Chief Financial OfficerEmail:
SOURCE iSoftStone Information Technology (Group) Co., Ltd.