UTStarcom Announces Change to its Board of Directors
UTStarcom (“UT” or the “Company”) (NASDAQ: UTSI), a global
telecommunications infrastructure provider, today announced that
Ms. Wendong Zhang resigned from the Company’s Board of Directors
(the “Board”) effective November 16, 2021 to pursue other business
interests. Ms. Zhang also served on various board committees,
including the Audit Committee, the Compensation Committee, and the
Nominating and Corporate Governance Committee.
Following Ms. Zhang’s resignation, Mr. Hao Zheng
was appointed as a member of the Board, the Audit Committee, the
Compensation Committee, and the Nominating and Corporate Governance
Committee of the Board, effective November 17, 2021. Mr.
Zheng is the designee of Beijing E-town International Investment
Development Co., Ltd. (“BEIID”), pursuant to the stockholders
rights agreement entered into by and between the Company and BEIID
on February 1, 2010.
Mr. Zheng received a professional degree of
Master of Engineering in Project Management from
Beijing Institute of Technology. Since November 2020, he has
been the head of the asset management department of BEIID, in
addition to his role as the head of BEIID’s general office since
April 2019. Before that, he took various positions at the
management committee of Beijing Economic-Technological Development
“I am excited to join UTStarcom’s board to serve
as a director and members of several committees, and I very much
appreciate the opportunity,” said Mr. Zheng. “I look forward to
working with other members of the board and senior management team
to execute on our business strategies and further explore business
Mr. Hua Li, Chief Executive Officer of
UTStarcom, was appointed as a member of the Board, effective
January 1, 2022, to take the position Dr. Zhaocheng Huang will
vacate by that time.
“I am excited to be appointed as a member of the
Board. I look forward to capitalizing on our growth opportunities
in front of us and driving shareholder value,” commented Mr.
“I would like to thank Ms. Zhang and Dr. Huang
for their contributions to the Board and the Company,” said Mr.
Ning Shan, Chairman of the Board, “I believe the new
members of the Board will help the Company to make progress on new
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, India
and China. 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
UTStarcom Holdings Corp.Tel: +86 571 8192 8888Ms. Shelley Jiang,
Investor RelationsEmail: email@example.com
The Blueshirt Group Mr. Gary DvorchakEmail:
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