Acorn International Announces Appointment of New Director
SHANGHAI, April 7, 2011 /PRNewswire-Asia-FirstCall/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), a leading integrated multi-platform marketing company in China engaged in developing, promoting and selling consumer products and services through its extensive distribution network, today announced that its board of directors has appointed Mr. Jing Wang as Director of the Company, effective immediately. Mr. Wang was also appointed as a member of the compensation committee. According to the Company's Articles of Association, Mr. Wang will hold office until the Company's next annual general meeting and will be eligible for re-election at such meeting.
"Mr. Wang's extensive experience in China's internet industry is crucial to our business, particularly after our recent repositioning of the Company," commented the Executive Chairman of the board, Mr. Robert Roche. "We welcome Mr. Wang to join the board of the Company and expect to leverage on his expertise to further enhance our business operations," said Mr. Don Yang, Chief Executive Officer and President of the Company.
Mr. Wang currently serves as VP of engineering at Baidu Inc., a leading Chinese language internet search provider, where he is responsible for engineering strategies in the areas of infrastructure, mobile and monetization. From 2006 to 2010, Mr. Wang served as site director of Google China in Shanghai where he was a key member of the cross-functional senior management team responsible for setting monetization strategies and priorities in China. Mr. Wang was general manager of eBay China Development Center from July 2004 until August 2006. Mr. Wang holds a master's degree in computer science from the University of Science and Technology of China and a master's degree in computer science from the University of Florida.
About Acorn International, Inc.
Acorn is a leading integrated multi-platform marketing company in China, operating one of China's largest TV direct sales businesses in terms of revenues and TV air time and a nationwide off-TV distribution network. Acorn's TV direct sales platform consists of airtime purchased from both national and local channels. In addition to marketing and selling through its TV direct sales programs and its off-TV nationwide distribution network, Acorn also offers consumer products and services through catalogs, third-party bank channels, outbound telemarketing center and an e-commerce website. Leveraging its integrated multiple sales and marketing platforms, Acorn has built a proven track record of developing and selling proprietary-branded consumer products, as well as products and services from established third parties. For more information, please visit http://www.chinadrtv.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains certain "forward-looking statements" within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are "forward-looking statements" including, among other things the Company's expectation to enhance its business operations after the appointment of the new director. The expectations reflected in these forward-looking statements involve significant assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Acorn International, Inc.
CCG Investor Relations
Ms. Irene Bian, Financial Controller
Ms. Linda Salo, Account Manager
Phone: +86-21-51518888 Ext. 2148
Mr. Crocker Coulson, President
SOURCE Acorn International, Inc.
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