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Hollysys Automation Technologies Announces Its Chief Executives Change To Promote The Company's Growth

BEIJING, Dec. 1, 2013 /PRNewswire/ -- Hollysys Automation Technologies, Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China, today announced that Dr. Changli Wang resigned from his positions of the Chairman and Chief Executive Officer of Hollysys Automation Technologies Ltd., the listing entity, and spend more time and efforts on the company's international business and will stay on the position of the President of Hollysys International Pte. Ltd. Dr. Jianfeng He, the Chief Operating Officer of the company is elected as the Chairman of the Board, and Mr. Baiqing Shao, Senior Vice President, Business Development of the Company as the Chief Executive Officer of the company on a Board Meeting held on November 30 th, 2013, and effective immediately after the Board resolution.

Hollysys' dream is to become an evergreen internationally recognized automation technology company. With such an ambitious goal, Dr. Wang believes that the dream can never be achieved by one generation. He believes that there will be more younger and more energetic and capable generations together to drive the company more competitive in the world, and he wants to give the space to more capable persons instead of taking Hollysys as his own company.

Dr. Wang made the decision through many years of serious consideration and preparation, and he believed that his resignation will be beneficial for the company's long term growth and his successors are more qualified than him to take the management positions.

In the future, he will stand in a different position to better evaluate the market and technology development trend and grow the company in the world arena. He will continue to closely focus on the company's development and provide suggestions, help the company to develop its international business, to build the company to be an internationally famous automation and control technology company.

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