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VisionChina Media Announces Appointment Of Chief Financial Officer And Resignation Of Independent Director

Stocks in this article: VISN


BEIJING, Aug. 27, 2012 /PRNewswire-Asia/ -- VisionChina Media, Inc. ("VisionChina" or the "Company") (Nasdaq: VISN), one of China's largest out-of-home digital television advertising networks on mass transportation systems, today announced the appointment of Mr. Stanley Yan Wang as the Company's chief financial officer, effective immediately.

Mr. Limin Li, chairman and chief executive officer of VisionChina Media commented, "I'm pleased to announce the appointment of Stanley as our new chief financial officer. Having worked with Stanley for more than three years, I know firsthand his significant contributions to the Company. His deep understanding of the Company's operations, extensive knowledge of accounting-related rules and regulations applicable to U.S.-listed companies and his long-term commitment to the Company and its goals make him the most suitable person to take on this important role."

Mr. Stanley Yan Wang joined the Company as financial controller in March 2009, and later served as senior vice president of finance, taking charge of the Company's daily financial operations. Prior to joining VisionChina Media, Mr. Wang was an audit manager at KPMG Guangzhou. He was involved in a number of initial public offerings and audits of U.S.-listed Chinese companies. Mr. Wang holds a bachelor's degree from Guangdong University of Foreign Studies in Guangdong, China.

The Company also announced the resignation, due to personal reasons, of Mr. Daniel Shih as member of the Company's board of directors, chairman of the Corporate Governance and Nominating Committee, and member of the Audit Committee and the Compensation Committee, effective from August 21, 2012.

Mr. Li concluded, " We are sorry to see Daniel Shih leave us and we would like to thank him for his significant contributions as an independent director."

After above change of the board of directors, VisionChina Media's current board members are Mr. Limin Li, founder, chairman and chief executive officer of VisionChina Media; Mr. Kit Leong Low, director; Mr. Arthur Wong, independent director; Ms. Yanqing Liang, independent director and Ms. Xisong Tan, independent director. The board of directors shall appoint new members to fill the vacancies of various committees due to Mr. Daniel Shih's resignation as soon as practicable.

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