GIGAMEDIA APPOINTS NEW CEO

01/08/2012 : Flailing company delivering on proposed company restructure
 
Following the resignation of Yichin Lee, after a short nine-month stint as chief executive officer and director at GigaMedia Limited  the company has announced the appointment of John Stringer into the position with immediate effect.
 
A company statement describes Stringer as a veteran technology executive with 25 years of senior leadership experience and an exceptional track record of driving strong growth and profitability in top global companies.
 
Formerly leading Taiwan-based Wyse Technology from 1998 to 2006 in different key roles, including president, chief executive officer and chairman, Stringer repositioned the business driving revenues from $5 million to $200 million along with capturing a 45 percent market share.  Prior, he served as executive vice president and general manager of Network Associates, Inc. – now McAfee, Inc.
 
"We are thrilled to have John take the helm of GigaMedia," said GigaMedia chairman Michael Ding. "He has a wealth of experience in revitalizing technology firms, developing new strategies and launching new products. He is a dynamic, insightful leader renowned for driving successful turnarounds and growth."
 
"The new Giga begins today," added John Stringer. "We start with talented employees and strong positions in the online games industry that we can strengthen and build upon. I look forward to creating new opportunities for our customers, partners, and employees, and am confident the new Giga will deliver new value for our shareholders."