NEW YORK, March 23, 2017 /PRNewswire/ -- Wecast
Network, Inc. (NASDAQ: WCST) ("Wecast" or the "Company" or "WCST"),
announced today that its Board of Directors (the "Board"), on
March 17, 2017, unanimously appointed
Mr. Simon Wang as Chief Financial
Officer ("CFO") and principal accounting officer of the Company,
effective immediately. Mr. Wang takes over the CFO role from
Mr. Yi Xu, the Company's current
Chief Operating Officer, who also held the role of interim CFO of
the Company for a short period while the search for a permanent CFO
was occurring. In addition,
the Company unanimously appointed Mr. Randy
Huang as Chief Technology Officer ("CTO").
Mr. Wang, who began his career at Deloitte China, comes to
Wecast with more than 15 years of finance, accounting and audit
experience and has held leadership positions at public and
privately held internet and technology companies. Mr. Wang
was most recently at privately held e-commerce platform,
BeiBei.com, where he led the finance, accounting and treasury
divisions.
Prior to that, Mr. Wang worked at NYSE-traded Vipshop (VIPS)
where he served as a finance director responsible for external
audits and SOX compliance amongst other finance-related duties.
Mr. Wang holds a BA in Accounting (from Southwest University of
Political Science and Law) and a Master's in Finance (from the
Chinese Academy of Social Sciences).
Chief Technology Officer, Mr. Randy
Huang, has spent the last 20 years at Cisco Systems, Inc.,
most recently as a Senior Director of Engineering. During Mr.
Huang's time at Cisco he has led teams of more than 500 engineers,
and worked in various areas such as software development,
networking, product development, embedded systems, virtualization
and cloud-based micro-service architectures.
Mr Huang hold a Master's in Computer Science from UCLA and a BA in Environmental Engineering from
Tsinghua University.
Mr. Bing Yang, CEO of Wecast Network, said of the new hires, "As
we drive Wecast through the next phases of growth, we are looking
to fill out our management team with individuals who have a track
record of success, leadership, vision and uninhibited drive.
With both new hires, we are confident in their ability to bring
considerable experience and perspective to Wecast's senior
leadership team, along with deep knowledge and expertise to each of
their respective functional
areas."
About Wecast Network, Inc.
(http://corporate.wecastnetworkinc.com)
Wecast Network, Inc. (NASDAQ: WCST), is a next generation
global brand licensing, IP sales and video commerce company driven
by AI and Big Data. With a firm focus on 4 strategy pillars
which include: Brand, Content, Commerce and Licensing, the Company
is leveraging and optimizing its legacy operations as a premium
content Video On Demand service provider in China to evolve into a global, vertical,
ubiquitous and transactional B2B2C, mobile-driven, consumer and
supply chain management platform. By aiming to establish the
world's premier multimedia, social networking and smart
e-commerce-enabled network with the largest global effective
connected user base, Wecast, through this expanded, cloud-based,
ecosystem of connected screens combined with strong partnerships
with leading global providers, will be capable of delivering a vast
array of WCST/YOD–branded products and services to enterprise
customers and end-use consumers - anytime and
anywhere, across multiple platforms and devices.
Wecast has content distribution agreements in place with many
of Hollywood's top studios including Disney Media
Distribution, Paramount Pictures, NBC Universal and Twentieth
Century Fox Television Distribution, Miramax, as well as a broad
selection of the best content from Chinese filmmakers. In
addition, the Company has governmental partnerships and licenses as
well as numerous JV partnerships and strategic cooperation
agreements with an array of distribution and content partners in
the global new media space. Wecast is headquartered in both
New York, NY and Beijing, China.
Safe Harbor Statement
This press release contains certain statements that may
include "forward looking statements." All statements other than
statements of historical fact included herein are "forward-looking
statements." These forward looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
CONTACT:
Jason
Finkelstein
Wecast Network,
Inc.
212-206-1216
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SOURCE Wecast Network, Inc.