Skip to main content

UTStarcom Announces Resignation of Vice President of Finance

Written by Customer Service on . Posted in Public Companies.

HANGZHOU, China, April 28, 2020 (GLOBE NEWSWIRE) — 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 ChinaUTStarcom Holdings Corp.Tel: +86 571 8192 8888Ms. Fei Wang, Director of Investor Relations
Email: fei.wang@utstar.comMs. Ning Jiang, Investor Relations
Email: njiang@utstar.comIn the United States:The Blueshirt Group
Mr. Ralph Fong
Tel: +1 (415) 489-2195
Email: ralph@blueshirtgroup.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.