Just a few short months after GigaMedia CEO Arthur Wang announced the company was restructured and revitalized after a huge cash injection from Everest Poker partners BetClic, Wang is stepping down. Wang had served as CEO of the company for the past seven years and will remain on the board serving as a special advisor to the new CEO.
Effective immediately, the GigaMedia Limited new CEO will be Yichin Lee , who joined GigaMedia’s board as an independent director in September 2003. Lee has over two decades of management consulting and operational experience and brings to the table a solid track record of successfully guiding and building international technology businesses.
Former CEO Arthur Wang stated in the release, “With Yichin as our new CEO, I retire with full confidence in GigaMedia’s future. He is the complete package. He has all the skills and experience to take Giga to the next level…It has been a great honor to lead Giga for the past seven years, to drive our transformation from a broken ISP to our position today as a leading online entertainment firm, with top content generation and a platform that spans across North and South Asia – plus our large equity position in the Everest poker and casino platform.”
New CEO Yichin Lee commented in the release, “I am very excited to be taking on this new role at GigaMedia…Arthur and I have worked hard together the past seven years and I am very grateful to him for all he’s done to position GigaMedia for great success and long-term growth. We now have extraordinary opportunities to create value for our shareholders and I look forward to developing and driving an even stronger GigaMedia.”
With this change in management, GigaMedia will rely on Lee to lead them forward in 2011.