SinoHub Names Tracy Edwards, Former CFO of NYSE-Listed Electronics Distribution Company, as Chief Financial Officer
LOS ANGELES and SHENZHEN, China, Sept 22, 2008 /Xinhua-PRNewswire via COMTEX/ -- SinoHub, Inc. (OTC Bulletin Board: SIHI), a Los Angeles-based holding company whose primary asset is SinoHub Electronics Shenzhen Limited in the People's Republic of China, today announced it has named Tracy A. Edwards as chief financial officer and corporate secretary.
Willa Li, the company's former chief financial officer, has assumed the position of vice president, finance. Chief executive officer Harry Cochran, who also formerly performed the duties of corporate secretary, will retain the position as treasurer in addition to his CEO responsibilities.
Edwards, 51, most recently served as chief financial officer and chief operating officer of Casestack, Inc., a Santa Monica, CA-based, privately-owned provider of logistics outsourcing services. From 1999 to 2005, Edwards was chief executive officer of Bell Industries, Inc., a diversified technology and recreational products company. He served as Bell's chief financial officer from 1991 to 1998, when Bell was a $900 million, NYSE-listed company. From 1979 to 1990, Edwards, who is a Certified Public Accountant, managed comprehensive professional services for international and national client engagements at Price Waterhouse.
Edwards will be based in Los Angeles. He is a member of AICPA, Financial Executives Institute, California Society of CPAs, and the Cal Poly Orfalea Business School - Industrial Technology Advisory Boards. Edwards is a graduate of California Polytechnic State University, San Luis Obispo, where he earned a Bachelor of Science degree in business administration.
"I am delighted to join SinoHub at an important time in the company's growth and development," Edwards said. "SinoHub has built a powerful and robust electronic component supply chain management platform, which I believe has long range positive implications, not only for the electronics industry in the People's Republic of China, but also for the electronics industry worldwide."
"We are thrilled to welcome Tracy to our team," said Cochran. "His tremendous experience in public company financial management and his knowledge of U.S. GAAP and Sarbanes Oxley will be invaluable. His expertise and close work with Willa Li and our financial group in China, will allow us to build a best-in-class financial team."
Edwards will also be responsible for establishing SinoHub as an electronics industry leader in the United States and conveying the unique opportunities the SinoHub Electronic Component Supply Chain Management Platform can bring to the U.S. electronics market.
"Having someone with Tracy's experience to lead our financial management team and communicate the SinoHub story to Wall Street will put SinoHub on the map in U.S. financial circles," said Lei Xia, president of SinoHub. "Tracy will play an integral role in many elements of our growth strategy and will add a new dimension in our ability to secure additional financing to further implement our business plans."
SinoHub, Inc., founded in 2000 by veteran entrepreneur Harry Cochran and electronic component industry veteran Lei Xia to facilitate the electronics revolution in China, provides world-class logistics services with transparent information access for participants in the electronic components supply chain in China. For more information, visit the company's Web site at http://www.sinohub.com
Cautionary Statement Regarding Forward-looking Information
The statements contained in this press release that are not historical facts are forward-looking statements under the federal securities laws. Such statements include, but are not limited to, the company's ability to build a best-in-class financial team, the company's ability to secure additional financings, and other statements made from time to time in filings. Forward- looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed in, or implied by, such forward-looking statements. SinoHub undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
In the U.S.:
Laurie Berman/Angie Yang
SOURCE SinoHub, Inc.