TXIC - Tongxin International Ltd. Announces New Appointments to Global Management Team 12/22 05:00 AM
CHANGSHA, CHINA -- (MARKET WIRE) -- 12/22/10 -- Tongxin International Ltd. (TXIC:$1.2400,$0.0000,0.00%) , (PINKSHEETS: TXIC), a China-based manufacturer of engineered vehicle body structures ("EVBS") and stamped parts for the commercial automotive industry, today announced the appointment of Arthur Tu as Vice President of Finance of its China Operations and Tom Chang as Vice President of Finance of its North America Operations.
Mr. Tu replaces Mr. Wenming Luo, who is now taking on the role of Vice President of Industry and Government Relations. Mr. Tu previously served, from 2004 to 2010, as the Chief Financial Officer of WOFE (wholly owned foreign enterprise) Operations in China for PBR International Ltd., a major international manufacturer of brake systems with turnover in 2007 of US$25 million and with US$65 million equity investment. As PBR's first CFO in China, Mr. Tu established the company's accounting team and supervised the training, hiring, and ongoing development of all accounting and finance staff and helped expand its China operations.
Prior to PBR, Mr. Tu served, from 2000 to 2003, as Finance Director for Tyco Thermal Controls, a WOFE construction products company with global operations, listed on the New York Stock Exchange. Before that, he held the position of Group Financial Controller of Automotive Component Group (ASIMCO), a VC invested company in China that made automotive components for both the Chinese and U.S. markets. Mr. Tu holds an MBA in Accountancy and Finance from Missouri State University-Warrensburg.
At Tongxin (TXIC:$1.2400,$0.0000,0.00%) , Mr. Tu reports directly to Mr. Zhang Duanxiang, Chairman of Tongxin (TXIC:$1.2400,$0.0000,0.00%) , and Mr. William Zielke, Chief Executive Officer and Chief Administrative Officer of the Company.
Mr. Chang's position as Vice President of Finance of Tongxin North America Operations was recently created to support TXIC's financial operations and corporate consolidation activities in North America. In addition to leading all financial and corporate consolidation activities, Mr. Chang will serve as a lead contact with the investment community in the U.S. Mr. Chang worked previously for Tongxin (TXIC:$1.2400,$0.0000,0.00%) as Managing Director of Finance from April to August 2009. He left to take the position of Controller of Linkyo Corporation (dba SuperMediaStore.com, a California-based online retailer), where he successfully upgraded that company's financial operations with the launch of "Multiview," the company's new accounting system. Previously, from 2002 to 2009, he served as VP of Finance for the Meloling Corporation, headquartered in California. From 1997 to 2003, he was Senior Vice President at Tehdex Corporation in California. He returns to Tongxin (TXIC:$1.2400,$0.0000,0.00%) beginning January 1, 2011. He will report to Tongxin (TXIC:$1.2400,$0.0000,0.00%) CEO William E. Zielke until a new CFO is named. Chang holds an MBA in Finance and Management Information Systems from Illinois Institute of Technology and is a Certified Public Accountant.
William E. Zielke, Chief Executive Officer and Chief Administrative Officer of the Company, commented, "In order to take advantage of the growth opportunities that lie ahead for Tongxin (TXIC:$1.2400,$0.0000,0.00%) , it was essential at this time to strengthen our management team and bring in a new level of oversight to our finance operations. We are pleased to have retained two seasoned financial executives that have both already proved paramount to moving our business in the right direction."
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