BEIJING, July 8, 2015 /PRNewswire/ -- Vimicro International Corporation (NASDAQ: VIMC) ("Vimicro" or the "Company"), a leading video surveillance technology and solution provider in China, today announced the appointment of Mr. Zhiyuan Chen as Chief Operating Officer ("COO"), effective July 8, 2015.
Mr. Chen has more than 20 years executive and operational experience in the high-technology industry. Before joining Vimicro, Mr. Chen served as General Manager of IBM Greater China Group Enterprise Customer Division. His 15-year work experience in IBM also included various senior positions in business operations and regional management as well as public relations. Prior to his tenure at IBM, he was General Manager in Compaq E-commerce in charge of sales, marketing, finance and call center departments. Mr. Chen received his B.S. degree from Beihang University.
"We are very pleased to welcome Mr. Zhiyuan Chen to join Vimicro team," commented Dr. John Deng, Chairman & CEO of Vimicro, "As COO, he will oversee all aspects of Company's business operations. We believe his strong track record in the operational management will be a great addition to our executive team."
Mr. Zhiyuan Chen added, "I am excited to take on the COO role in Vimicro. As a leading video surveillance technology and solution provider, Vimicro offers a compelling value proposition in China's fast-growing video surveillance market. I look forward to leveraging my operational management experience to serve the Company and make my share of contribution to its growth."
About Vimicro International Corporation
Vimicro International Corporation (NASDAQ: VIMC) is a leading video surveillance technology and solution provider that designs, develops and markets a full range of video surveillance products and solutions to governments, private enterprises, and consumers in China. Vimicro co-developed SVAC (Surveillance Video and Audio Coding), the national video surveillance technological standard, which demonstrates its unique strengths in proprietary multimedia IC technology, making it a leader in China's fast-growing security and surveillance market. Vimicro is headquartered in Beijing, China and has subsidiaries and offices throughout China and in Silicon Valley. Vimicro's ADSs each represent four ordinary shares and are traded on the NASDAQ Global Market exchange under the ticker symbol "VIMC."
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the quotations from management in this announcement, as well as Vimicro's expectations and forecasts, contain forward-looking statements. Vimicro may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Vimicro's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. 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 ability to increase its sales of PC camera processors, as well as video surveillance products; the expected growth of the video surveillance market; the Company's ability to retain existing customers and acquire new customers and respond to competitive market conditions; the Company's ability to respond in a timely manner to the evolving market and changing consumer preferences and industry standards and to stay abreast of technological changes; the Company's ability to secure sufficient foundry capacity in a timely manner; the Company's ability to effectively protect its intellectual property and the risk that it may infringe on the intellectual property of others; and cyclicality of the semiconductor industry and fluctuations in the markets in which the Company competes. Further information regarding these and other risks is included in Vimicro's annual report on Form 20-F filed with the Securities and Exchange Commission. Vimicro does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of the date hereof, and Vimicro undertakes no duty to update such information, except as required under applicable law.
Vimicro International Corporation Investor Relations Phone: +8610-5884-8898 E-mail: firstname.lastname@example.org
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