HONG KONG, June 26, 2015 /PRNewswire/ -- TCL Multimedia Technology Holdings Limited ("TCL Multimedia" or the "Group", HKSE stock code: 01070) announces that with effect from 25 June 2015, Mr. Bo Lianming ("Mr. Bo"), the Chairman of the Strategy Executive Committee and an Executive Director of the Group, takes up the role as the Chief Executive Officer of the Company. Mr. Hao Yi ("Mr. Hao") will act as the President and remain to be an Executive Director of the Group.
Mr. Bo has been the Chairman of the Strategy Executive Committee of the Group since November 2014. His involvement in the implementation of strategic decisions has played an important role in the enhancement of TCL Multimedia's operational efficiency and its "double +" strategic transformation. The appointment of Mr. Bo as the Chief Executive Officer of the Group will help realise the advantages of the resources allocation and overall strategy as well as business collaboration between TCL Group and TCL Multimedia. This will also further increase core competitiveness of the Group by optimising organisational structure and decision-making mechanism. Business performance and operation of the Group is expected to be improved.
TCL Multimedia has accelerated its twin drivers of internationalisation and "double +" strategic transformation since last year, enhancing its corporate image and elements of Internet-oriented enterprise and youth-oriented brand. There is still room for improvement in its product management and profitability. TCL Group considers that having Mr. Bo to act as the Chief Executive Officer will strengthen its resource integration between TCL Multimedia and Shenzhen China Star Optoelectronics Technology Co., Ltd. ("CSOT") and further enhance its corporate competitiveness. Mr. Hao has rich experience in leading TCL Multimedia to globalisation of entertainment technology business and development of internet businesses. As the President of the Group, Mr. Hao will therefore be focusing on the Group's internet businesses, thereby increasing the revenue proportion and further promoting the Group's "double +" strategic transformation.
About TCL Multimedia
Headquartered in China, TCL Multimedia Technology Holdings Limited (HKSE stock code: 01070) is one of the leading players in the global TV industry, engaged in the research and development, manufacturing and distribution of consumer electronic products. Through a new product-and-user-oriented business model that focuses primarily on a "double +" strategy which includes "intelligence + internet" and "products + services" as the main direction, striving to become a "global entertainment technology enterprise" that provides integrated entertainment solution to customers. According to the latest Display Search figures, the Group ranked No.4 in the global LCD TV market with a market share of 5.4% in 2014 and ranked No.3 in the PRC LCD TV market with a market share of 16.0%. For more information, please visit its website: http://multimedia.tcl.com
This press release is issued by Cornerstones Communications Ltd. on behalf of TCL Multimedia Technology Holdings Limited.
