CDC Global Services changes CEO or prepares for spin-off (VC 257)

CDC Global Services, the IT services and consulting division of CDC Investment Corporation (NASDAQ: CHINA), today announced the appointment of Dr. Chung Kiu Wong as its CEO.

Dr. Huang Zhongqiao will succeed Ye Keyong as CEO of CDC Global Services. Ye Keyong will continue to serve as the CEO of CDC Investment Group. Dr. Huang Zhongqiao has been a member of the board of directors of CDC Software International since 2007 and a member of the board of directors of CDC Software Corporation since 2009. He has more than 30 years of experience in the technology industry in the United States and China experience.

Dr. Huang Zhongqiao is the founder of Hong Kong Yongtai Information Technology Company (iASPEC) and served as the company's president. Hong Kong Yongtai Information Technology Company is a company that provides information technology consulting services, software products and services in Hong Kong, Mainland China and North America.

From 1975 to 1981, Dr. Huang Zhongqiao served as the Chief Architect of the California State Government Data Center, and was awarded the "Outstanding Service Award" by the California government in 1979. After returning to China in 1982, Dr. Huang Zhongqiao held senior management positions in many multinational information technology companies in mainland China and Hong Kong.

Huang Zhongqiao holds a doctorate in mathematics from the University of California, Berkeley, and was elected "Outstanding Person" by the Hong Kong Computer Society. Dr. Huang Zhongqiao is also a member of the University Education Funding Committee and a member of the Creative Industries Advisory Committee of the Central Policy Group of the Hong Kong Special Administrative Region Government.

Ye Keyong, CEO of CDC Investment Group, said: "As we previously announced, the goal of CDC Global Services is to develop 5,000 professional employees in China in the next few years and to generate considerable revenue in China's domestic service market because We believe that China's domestic service market has strong demand for world-class localized IT services. We are also considering some strategic measures, such as the separation of CDC Global Services into an independent listed company like CDC Software. This will help CDC Global Services become a professional IT service and consulting company that can compete with its peers in the stock market. We expect Dr. Huang Zhongqiao to use his leadership skills to help us achieve these goals and improve CDC Global Services. To a whole new level, to become the world's leading service provider in the IT and research outsourcing market. "

Dr. Huang Zhongqiao said: "This is an exciting time for CDC Global Services. I am proud to be part of this industry-leading service company. We plan to continue to implement our strategy and develop with other companies. Cooperation, acquisition or development of other companies to expand our IT-related services business in high-growth industries. We will adopt a highly focused strategy to serve international and domestic customers through world-class software R & D centers in China. We believe that these strategies The move will definitely help the company's shareholders to achieve good returns in the next few quarters.

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