VisionChina Media Announces Appointment of Chief Financial Officer Scott Chen
June 23 2009 - 5:30PM
PR Newswire (US)
BEIJING, June 23 /PRNewswire-Asia/ -- VisionChina Media, Inc.
("VisionChina" or the "Company") (NASDAQ:VISN), one of China's
largest out- of-home digital television advertising networks on
mass transportation systems, today announced the appointment of Mr.
Scott Chen as chief financial officer, effective immediately. "We
are pleased to welcome Scott Chen to our senior management team,"
said Mr. Limin Li, VisionChina Media's chairman and chief executive
officer. "Over the past few months, we have worked diligently to
find the very best executive to fill this important role. Scott
brings with him a strong financial background based in banking, a
deep knowledge of the media industry as well as outstanding
professional and academic credentials. Additionally, Scott has
direct experience in our sector having worked on several large
transactions within our immediate peer group. I am confident that
Scott will leverage his experience and, together with the rest of
our management team, continue to execute on our strategy of
providing compelling television and advertising to the millions of
commuters riding on mass transportation in China every day." Mr.
Chen joins VisionChina from the investment banking division of
Nomura in Hong Kong where he served as an executive director and
head of industry coverage for the Media sector. From 2002 to 2008,
Mr. Chen worked at Lehman Brothers in Hong Kong where he started as
a corporate finance generalist before shifting to the technology
and media sectors. His investment banking experience spans equity,
debt and M&A transactions for a variety of clients including
outdoor media, online gaming, education and e-commerce companies.
Prior to Lehman Brothers, Mr. Chen was a management consultant at
Deloitte Consulting in Taipei, Taiwan from 1998 to 2000. He began
his career at PricewaterhouseCoopers in their New York and San
Francisco offices, where he worked as a management consultant from
1995 to 1998. Mr. Chen holds a Master of Business Administration
with a major in finance from The Wharton School of the University
of Pennsylvania as well as a Bachelor of Science in operations
research from Cornell University. Mr. Chen will be based at the
company's headquarters in Shenzhen, China. About VisionChina Media,
Inc. VisionChina Media Inc. (NASDAQ:VISN) operates an out-of-home
advertising network on mass transportation systems, including buses
and subways that reaches over 40 million viewers each day in China,
according to CTR Market Research. As of March 31, 2008, VisionChina
Media's advertising network included 81,690 digital television
displays on mass transportation systems in 18 of China's
economically prosperous cities, including Beijing, Guangzhou and
Shenzhen. VisionChina Media has the ability to deliver real-time,
location-specific broadcasting, including news, stock quotes,
weather and traffic reports and other entertainment programming.
For more information, please visit http://www.visionchina.cn/ .
Safe Harbor Statement This press release contains forward-looking
statements. These statements constitute "forward-looking"
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, and as defined in the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates" and similar statements. Among other things, the
quotations from management in this press release contain
forward-looking statements. Such statements involve certain risks
and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Further
information regarding these and other risks is included in the
Company's filings with the U.S. Securities and Exchange Commission,
including its registration statement on Form F-1 and its annual
report on Form 20-F. The Company does not undertake any obligation
to update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
applicable law. For investor or media inquiries, please contact: In
China: Mrs. Helen Plummer Investor Relations Officer VisionChina
Media, Inc. Tel: +86-10-8418-7475 Email: Mr. Derek Mitchell Ogilvy
Financial, Beijing Tel: +86-10-8520-6284 Email: In the United
States: Ms. Jessica Barist Cohen Ogilvy Financial, New York Tel:
+1-646-460-9989 Email: DATASOURCE: VisionChina Media, Inc. CONTACT:
In China: Mrs. Helen Plummer, Investor Relations Officer,
VisionChina Media, Inc. at +86-10-8418-7475 or ; Mr. Derek
Mitchell, Ogilvy Financial, Beijing at +86-10-8520-6284 or ; In the
United States: Ms. Jessica Barist Cohen, Ogilvy Financial, New York
at +1-646-460-9989 or Web site: http://www.visionchina.cn/
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