BEIJING, December 12, 2011 /PRNewswire-Asia-FirstCall/ -- Camelot Information Systems Inc. ("Camelot" or the "Company") (NYSE: CIS), a leading domestic provider of enterprise application services and financial industry information technology services in China, today announced the appointment of Mr. Qian Zhao as President, effective immediately. Ms. Heidi Chou, who previously served as Camelot's President, has been appointed General Manager of Camelot Information Systems.
Mr. Zhao joined Camelot's Board of Directors as an independent director in October 2011. He is a founding partner of CXC China Sustainable Growth Fund (CXCG), as well as a managing director of CXCG's management company, CXC Capital, Inc. Mr. Zhao has been admitted to practice law in both China and New York and received a J.D. degree from New York University School of Law, in addition to an LL.B. from the University of International Business and Economics, Beijing. He is also an independent director of Trina Solar Limited and SouFun Holdings Limited. The Company plans to appoint a new independent director as soon as practicable.
"I would like to welcome Qian Zhao to Camelot's executive team, and we look forward to working closely with him in the future," commented Mr. Simon Ma, Camelot's Chairman and CEO. "In her new role, Heidi will assume many of my previous business development functions so that I can focus on determining the mid- to long-term strategic direction of the Company. We considered Camelot's operational structure and long-term goals in making this important adjustment in our executive team, which will help us work together to build a much stronger company."
ABOUT CAMELOT INFORMATION SYSTEMS INC.
Camelot is a leading domestic provider of enterprise application services and financial industry information technology ("IT") services in China, focusing on the high end of the IT value chain. The Company is the largest domestic provider of SAP-based Enterprise Resource Planning services in China as measured by 2009 revenue and by number of SAP consultants as of December 31, 2009. Camelot also operates in other areas of the Asia Pacific region, including Taiwan and Japan. The Company provides services to a wide range of industries, including financial services, resources and energy, manufacturing and automobile, technology, as well as telecommunication, media and education.
SAFE HARBOR
This press release contains statements that may 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 involve a number of risks and uncertainties that could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's growth strategies, the Company's ability to attract and retain skilled professionals, the market of IT services in China, the wages of IT professionals, the Company's ability to serve, retain, and attract customers. Further information regarding these and other risks is included in Camelot's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Camelot 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.
Company Contacts: Camelot Information Systems Inc. Ms. Jojo Guo, Investor Relations Manager | Investor Relations Contacts: CCG Investor Relations Mr. John Harmon, CFA, Sr. Acct. Mgr. | |
