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Nam Tai Electronics, Inc. Announces Date Of Report Of First Quarter 2014 Results And Payment Of Quarterly Dividend And Change Of CEO

Stocks in this article: NTE

SHENZHEN, China, March 18, 2014 /PRNewswire/ -- Nam Tai Electronics, Inc. ("Nam Tai" or the "Company") (NYSE: NTE) today announced the date of release of its first quarter results and payment of its quarterly dividend and change of CEO.

First Quarter Results

The release of Nam Tai's first quarter financial results for the period ended March 31, 2014 will be on Monday, April 28, 2014 at 6:00 a.m. (EDT).

Dividend Reminder

Nam Tai announced the record date for the Company's second quarter cash dividend of $0.02 per common share will be on March 31, 2014 and the dividend payment date will be on April 17, 2014.

Change of Personnel

Nam Tai also announced that Mr. Wang Lu Ping ("Mr. Wang") has resigned as the Chief Executive Officer (CEO) of the Company effective on March 1, 2014 due to personal reasons together with the transformation of core business. The Company confirms that Mr. Wang's departure was voluntary and amicable, and there was no dispute between Mr. Wang and the Company.  Upon the resignation of Mr. Wang as the CEO, Mr. Liu Pi Hao ("Mr. Liu") was appointed as the CEO (Acting) of the Company effective on the same date.

Mr. Liu has been with Nam Tai for over 14 years and prior to his appointment as the CEO (Acting), most recently served as the Vice Chief Executive Officer of the Company's Shenzhen Manufacturing Facilities.

The management of the Company considers that such change of personnel has no impact on the Company and believes that Mr. Liu is capable of acting the role of CEO (Acting) effectively.

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