BEIJING, May 14, 2014 /PRNewswire/ -- AirMedia Group
Inc.("AirMedia" or the "Company") (NASDAQ: AMCN), a leading
operator of out-of-home advertising platforms in China targeting mid-to-high end consumers,
today announced the appointment of Mr. Richard Peidong Wu as chief financial officer of
the Company ("CFO"), effective June 1,
2014. Mr. Wu will replace Mr. Henry
Ho, who tendered his resignation as chief financial officer
due to personal reasons, effective May 31,
2014.
"I am pleased to join such a visionary media leader as AirMedia
at such an important time, when the Company is transitioning to
obtain a leading position on wireless connectivity and digital
cabin entertainment platforms in air and high-speed train travel in
China, while maintaining a leading
position in the out-of-home advertising sector. I look forward to
leveraging my experience and energy in the CFO role, which includes
communicating AirMedia's transformation and future plans to
investors," commented Richard
Wu.
"We are pleased to have been able to hire such an experienced
professional as Mr. Wu, who I expect to be an outstanding chief
financial officer. We look forward to taking full advantage of
Richard's substantial financial and business expertise and also
thank Mr. Ho for his service as CFO for the Company," commented
AirMedia's Chairman and CEO, Mr. Herman
Guo.
Separately, AirMedia also announced its results for the first
quarter of 2014 today.
About Richard Wu
Mr. Wu is an experienced finance and investment professional,
with more than 18 years of experience working with and advising
companies in China in technology,
media and telecom sectors ("TMT"). Before joining AirMedia,
he worked as the head of legal & compliance at the Greater
China Division of Nokia Solutions and Networks. Prior to that, he
was the chief financial officer of Vimicro International
Corporation from 2011 to 2012. From 2006 to 2011, he was managing
director at Dragon Bay Capital, a China-focused investment advisory firm
specializing in private placement, pre-IPO turnarounds,
pre-auditing, and investor relations. He also worked as the chief
financial officer at several other companies, including China
Natural Gas, Inc., China Medicine Corporation and AlliancePharm US
LLC, as well as the executive vice president of MeetChina.com, the
finance director at Motorola, Inc and an investment banking
associate at Lehman Brothers. Mr. Wu started his career as a senior
legal counsel at Beijing Bei Fang Law Offices. He received his MBA
from the Wharton School of the University of
Pennsylvania, a master of arts in criminal justice from
Indiana University, a post-graduate law
diploma from the Chinese University of Political Science & Law.
Mr. Wu is a licensed attorney in China.
About AirMedia Group Inc.
AirMedia Group Inc. (Nasdaq: AMCN) is a leading operator of
out-of-home advertising platforms in China targeting mid-to-high-end consumers.
AirMedia operates the largest digital media network in China dedicated to air travel advertising.
AirMedia operates digital frames in 31 major airports and digital
TV screens in 31 major airports, including most of the 30 largest
airports in China. In addition,
AirMedia sells advertisements on the routes operated by seven
airlines, including the four largest airlines in China. In selected major airports, AirMedia
also operates traditional media platforms, such as billboards and
light boxes, and other digital media, such as mega-size LED
screens.
In addition, AirMedia has obtained exclusive contractual
concession rights until the end of 2020 to develop and operate
outdoor advertising platforms at Sinopec's service stations located
throughout China.
For more information about AirMedia, please visit
http://www.airmedia.net.cn.
Investor Contact:
Raymond Huang
Senior Director of Investor Relations
Tel: +86-10-8460-8678
Email: ir@airmedia.net.cn
SOURCE AirMedia Group Inc.