VANCOUVER, CANADA -- May 14, 2007 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE) announced the appointment of Mr. John Q. Farina as Chief Financial Officer (“CFO”) of the Company with a commencement date of May 14, 2007.
Mr. Farina, along with his strong foundation in financial management, brings over 20 years of experience in high technology companies. He has over 10 years experience with Celestica Inc., a top tier North American based electronics manufacturing services company. Mr. Farina was part of Celestica Inc.’s founding management team and has held General Manager, Corporate Development and Financial Executive positions. Mr. Farina also worked for 13 years with IBM Corporation in Canada and the United States where he gained extensive experience in financial management, culminating in the role of Divisional Chief Financial Officer.
Mr. Farina has a Bachelor of Science degree from the University of Toronto and a Masters of Business Administration from York University’s Schulich School of Business.
“It is not easy finding a suitable candidate with a strong financial background, industry experience, and the ability to bridge the cultural differences between North America and Asia. I am pleased that Mr. Farina, with his extensive experience in high technology companies in North America has joined the Nam Tai team,” commented Mr. Koo, Nam Tai’s Chairman and acting Chief Executive Officer. “This is one step in our restructuring process which aims to strengthen the quality and depth of Nam Tai’s management team, reduce costs, enhance organizational efficiency, and foster the development of new business.”
Ms. Patinda Lei, who was acting as CFO on an interim basis, will now be able to concentrate solely on managing and growing the business of Zastron Precision-Tech Limited, a wholly-owned subsidiary of Nam Tai.
ANNUAL MEETING OF SHAREHOLDERS
The Company will hold its Annual Meeting of Shareholders at 11:30 a.m. (ET) on Friday, June 8, 2007 at The Peninsula New York, Tribeca Room, 3rd Fl, 700 Fifth Avenue at 55th St, New York, NY. The record date for voting is April 25, 2007. All shareholders, analysts, and interested investors are invited to attend where they will have an opportunity to meet with both Mr. Koo and Mr. Farina.
About Nam Tai Electronics, Inc.
We are an electronics manufacturing and design services provider to a select group of the world’s leading OEMs of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and sub-assemblies, including LCD panels, LCD modules, RF modules, FPC sub-assemblies and image sensors modules. These components are used in numerous electronic products, including cellular phones, laptop computers, digital cameras, copiers, fax machines, electronic toys, handheld video game devices and microwave ovens. We also manufacture finished products, including cellular phones, palm-sized PCs, personal digital assistants, electronic dictionaries, calculators, digital camera accessories and BluetoothTM wireless headset accessory for use with cellular phones.
Nam Tai has two Hong Kong listed subsidiaries, Nam Tai Electronic & Electrical Products Limited (“NTEEP”) and J.I.C. Technology Company Limited (“JIC”). Interested investors may go to the website of The Stock Exchange of Hong Kong at www.hkex.com.hk to obtain the information. The stock codes of NTEEP and JIC in The Stock Exchange of Hong Kong are 2633 and 987, respectively. Investors are reminded to exercise caution when assessing such information and not to deal with the shares of the Company based solely upon reliance on such information.