UTStarcom Announces Resignation of Vice President of Finance
April 28 2020 - 5:00PM
UTStarcom (“UTStarcom” or “the Company”) (NASDAQ:UTSI), a global
telecommunications infrastructure provider, today announced that
Mr. Eric Lam, is resigning as Vice President of Finance for
personal reasons, effective May 31, 2020. Mr. Dan
Xie, Director of Finance, has been named as Eric’s successor.
The Company noted that Eric's departure is not related to any
issues or disagreements regarding the Company's financial
disclosures, accounting policies and practices.
Mr. Lam has served as UTStarcom's Vice President of Finance
since October 2016, overseeing the Company’s global finance and
accounting function. He previously held various senior
financial management positions with the Company supporting sales
and global supply chain operations for more than a
decade.
Mr. Xie joined the Company in April 2012 and has taken various
management positions in the finance department, including treasury,
tax, technical accounting, internal audit and compliance. Mr.
Xie has over ten years of experience in corporate finance and
public practice, as well as nine years of experience in IT fields.
Before joining the Company, Mr. Xie worked as an auditor at Levi,
Yetnikoff Chartered Accountants. Earlier in his career Mr Xie
worked as IT manager in Guosen Securities Company and Ping An
Securities Company.
Mr Xie is a Chartered Professional Accountant, Chartered
Accountant (CPA, CA) of Canada. Mr. Xie received a Graduate Diploma
in Public Accountancy from McGill University's Desautels Faculty of
Management in 2008, a Master of Engineering degree in System
Engineering from Huazhong University of Science and Technology in
1996, and a Bachelor of Engineering degree in Automatic Control
from Xi'an Jiaotong University in 1993.
Dr. Zhaochen Huang, UTStarcom’s Acting Chief Executive Officer,
commented, “On behalf of the Board of Directors and our employees,
we wish Eric all the best and thank him for his outstanding service
and contributions. In addition, I am pleased to congratulate
Dan on his new assignment. I’m confident that Dan will be a strong
successor to Eric."
About UTStarcom Holdings Corp.
UTStarcom is committed to helping network operators offer their
customers the most innovative, reliable and cost-effective
communication services. UTStarcom offers high performance
advanced equipment optimized for the most rapidly growing network
functions, such as mobile backhaul, metro aggregation and broadband
access. UTStarcom has operations and customers around the
world, with a special focus on Japan and India. UTStarcom was
founded in 1991 and listed its shares on the Nasdaq Market in 2000
(symbol: UTSI). For more information about UTStarcom, please
visit http://www.utstar.com.
For investor and media inquiries, please
contact:
In China
UTStarcom Holdings Corp.
Tel: +86 571 8192 8888
Ms. Fei Wang, Director of Investor Relations Email:
fei.wang@utstar.com
Ms. Ning Jiang, Investor RelationsEmail: njiang@utstar.com
In the United States:
The Blueshirt Group Mr. Ralph FongTel: +1 (415) 489-2195Email:
ralph@blueshirtgroup.com
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