NEW YORK, April 20, 2017 /PRNewswire/ -- Wecast
Network, Inc. (NASDAQ: WCST) ("Wecast" or the "Company" or "WCST"),
announced today the appointment of Mr. Sean
Wang to the Company's Board of Directors ("Board"),
effective April 14, 2017.
Mr. Wang has founded or served senior executive roles in five
start-ups in the areas of mobile devices, content and services, big
data and wireless networking.
He was a co-Founder and CEO of Dragontech Ventures, a venture
capital firm founded in 2000. During his time there, he was
ranked a Top 10 Venture Capitalist in China twice by Zero2IPO. Prior to that
he was a Deputy General Manager of China International Capital
Corporation (CICC), a joint venture between Morgan Stanley and
China Construction Bank. He was also a Senior Regional
Analyst heading Telecommunications and Technology Research at Nikko
Research Center (Hong Kong)
Ltd.
He was an Associate Professor (with tenure) of Electrical and
Computer Engineering at the University of
Victoria, B.C. Canada and an
Associate Professor of Information Engineering at the Chinese University of Hong Kong.
Additionally, he served as an Industrial Fellow of the
Telecommunications Advancement Organization of Japan for international collaboration and a
British Columbia Advanced Systems Institute Fellow for technology
transfer from academia to industry.
He received a Ph.D. in Electrical and Computer Engineering from
the University of Victoria, BC, Canada
in 1988 and has been a CFA charter holder since 2001.
Mr. Wang is currently the Chief Investment Officer of Sun Seven
Stars Media Group.
In addition to today's Board addition, Mrs. Polly Wang and Mr. Xuesong Song have both stepped down as members
of the Board effective April 14,
2017.
Chairman Bruno Wu, commenting on
the Board changes, stated, "We are very pleased to welcome
Sean Wang to our Board of Directors.
His wide-ranging experience and proven business leadership will
serve as a major asset to Wecast Network. Over the past
several months the Board has increased the Company's capabilities
to accelerate the Company's journey to become the leading provider
of total B2B business solutions for today's constantly evolving
business landscape. With our excellent executive team along
with today's Board addition, Wecast is well prepared to deliver on
both its long-term and short-term performance goals. I would
like to also sincerely thank Mrs. Polly
Wang and Mr. Xuesong Song for
their exemplary work and tireless commitment to the Wecast
Board. I look forward to continue working with them in
the future. In the meantime,
the Board is currently conducting a search process
and intends to increase the number of
independent director(s) on the Board to further
strengthen the Board's breadth of talent and background and to
achieve an independent majority on the Board."
About Wecast Network, Inc.
Wecast Network is aiming to be the leading provider of total B2B
business solutions for today's constantly evolving business
landscape. With a focus on "BASE" or Blockchain, Artificial
Intelligence, Supply Chain & Exchanges, Wecast is organized
into three cloud-based categories and business units: Smart
Intellectual Property Cloud, Smart Sales Cloud (Products), and
the Transactional Cloud. With the three clouds functioning
both independently and interdependently, Wecast is creating a
vertical, transactional and flexible platform for today's global
enterprises.
The Company's mission and vision is to be the world's leading
cloud-based, total B2B enterprise solution + platform provider that
empowers businesses to grow with Big Data technology.
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.