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June 24, 2014
08:37 EDTSTVChina Digital announces reorganization and adjustment of management team
China Digital TV Holding announced plans to conduct an internal reorganization, as a result of which it will have legal ownership of Beijing Novel-Super Digital TV Technology, the variable interest entity which it currently controls through contractual arrangements in China, and plans to adjust the Company's senior management team. On June 13 China Digital TV announced its plan to inject its CA, Network Broadcasting Platform and Video on Demand businesses into Shanghai Tongda Venture Capita in exchange for a controlling stake in, and RMB1.15B in cash from, Tongda Venture. The Restructuring is ongoing. In line with CSRC requirements for domestically listed companies, Tongda Venture's management shall not take senior positions at any other company other than as a member of the board of directors. China Digital TV announces the following adjustments to its management team effective June 30: Zhu Jianhua will resign from his position as CEO and chairman of China Digital TV Holding, he will continue in his role as a director of the Company; Liang Zhenwen will resign from his position as CFO of China Digital TV Holding; Li Dong will resign from his position as president of China Digital TV Holding; Wang Tianxing will resign from his position as chief technology officer of China Digital TV Holding. The Company also announces the appointment of the following senior management team: Lu Zengxiang, co-founder and director of China Digital TV, will be appointed as acting CEO and acting CFO of China Digital TV for a period of 12 months, during which time the Company will search for a permanent CEO and CFO; the position of president will be abolished and the responsibilities will be taken by Lu Zengxiang; Han Jian will be appointed chief technology officer of China Digital TV Holding; Zhu Jianhua will remain as chairman; CEO Super TV and Liang Zhengwen will be appointed CFO of Super TV; Li Dong will be appointed President of Super TV; Wang Tianxing will be appointed technology director of Super TV. If the Restructuring is not completed, the abovementioned management changes will not come into effect.
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October 9, 2014
07:52 EDTSTVChina Digital subsidiary reaches definitive agreement with Tongda Venture
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