BEIJING, April 8 /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 that Ms. Dina Liu will step down as chief financial officer of the Company to devote more time to her family. Ms. Liu's last day will be April 15, 2009.
The search for a new chief financial officer has been initiated, and in the interim, Mr. Chris Holbert, vice president of finance, will continue to manage the Company's daily financial operations, supported by the Company's strong finance team. Mrs. Helen Plummer, investor relations officer, will continue to manage the investor relations department and will be the primary contact with the investment community. Mr. Chris Holbert and Mrs. Helen Plummer will report directly to the CEO.
"Ms. Liu has made significant contributions to VisionChina since she joined our company in June of 2007," said Mr. Limin Li, VisionChina's chairman and chief executive officer. "We understand her decision to devote more time to her family and wish her well. Over the past two years, Dina has helped build a strong financial brand for VisionChina based on transparency and active communications with the global investment community. We thank her sincerely for her service and significant contributions."
Mr. Li continued, "Understandably, we are taking the utmost care in our search for a new CFO, and this is an important priority for the company. Meanwhile, I have full confidence in the abilities of Mr. Chris Holbert and the rest of the VisionChina finance team to oversee financial operations in the interim and am confident that Mrs. Helen Plummer will continue to foster transparent communications between VisionChina and the investment community. Most importantly, VisionChina has a strong management team and a solid balance sheet, and we will continue to execute according to our growth strategy in China's exciting outdoor television and advertising industry."
Ms. Liu has served as VisionChina's chief financial officer since June 2007, successfully leading the Company's initial public offering on the NASDAQ in December 2007 and subsequent follow-on offering in August 2008.
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 26 million viewers each day in China, according to CTR Market Research. As of December 31, 2008, VisionChina Media's advertising network included over 66,264 digital television displays on mass transportation systems in 17 of China's economically prosperous cities, including Beijing, Guangzhou, Shanghai 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 .
For investor inquiries, please contact:
In China:
Mrs. Helen Plummer
Investor Relations Officer
VisionChina Media Inc.
Tel: +86-10-8418-7475
Email: helen.plummer@visionchina.cn
Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-10-8520-6284
Email: derek.mitchell@ogilvy.com
In the United States:
Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989
Email: jessica.cohen@ogilvypr.com
For media inquiries, please contact:
Ms. Ceren Wende
Ogilvy Financial, Beijing
Tel: +86-10-8520-6514
Email: ceren.wende@ogilvy.com
