HONG KONG, April 30 /PRNewswire-Asia-FirstCall/ -- GigaMedia Limited
(Nasdaq: GIGM) announced today the resignation of its chairman and director
Daniel Wu for personal reasons.
Mr. Wu became chairman of the board of directors in July 2003 and
submitted his resignation citing personal and family obligations. The
resignation was delivered in a letter to GigaMedia and effective yesterday.
'GigaMedia has grown over tenfold under the chairmanship of Daniel Wu,'
stated GigaMedia CEO Arthur Wang. 'It has been an honor to have him as
chairman, but we understand his desire to spend more time with family, and we
wish him all the best.'
'GigaMedia has built a powerful foundation for growth in online
entertainment in Europe and Asia -- and ultimately in the United States. I am
proud of GigaMedia's successful turnaround and rapid growth and excited about
the company's prospects,' stated Daniel Wu.
The board plans to convene to select a new chairman in accordance with the
company's articles of association.
About GigaMedia
GigaMedia Limited (Singapore registration number: 199905474H) is a major
provider of online entertainment software and services. GigaMedia develops and
licenses software for online gaming. GigaMedia also operates online games
businesses including FunTown, a leading Asian casual games operator and the
world's largest online MahJong game site in terms of revenue, and T2CN, a
leading online sports game operator in China. More information on GigaMedia
can be obtained from http://www.gigamedia.com.tw .
The statements included above and elsewhere in this press release that are
not historical in nature are 'forward-looking statements' within the meaning
of the 'safe harbor' provisions of the Private Securities Litigation Reform
Act of 1995. GigaMedia cautions readers that forward-looking statements are
based on the company's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those contained in
such forward-looking statements. Information as to certain factors that could
cause actual results to vary can be found in GigaMedia's Annual Report on Form
20-F filed with the United States Securities and Exchange Commission in June
2008.
For further information contact:
Brad Miller, Investor Relations Director
Country/City Code 8862 Tel: 2656-8016
Email: brad.miller@gigamedia.com.tw
SOURCE GigaMedia Limited
