Published:
Towona Media Elects Mr. Zhang Zhenzhong (Gareth Chang), Renowned Media and Technology Executive, as Its Chairman and CEO
BEIJING, July 3 /Xinhua-PRNewswire/ -- Towona Media, the largest transport
digital media group inChina, announced today inBeijing that it has appointed
Zhang Zhenzhong (Gareth Chang), renowned international media and technology
business leader and famous Chinese entrepreneur, as its chairman and CEO, and
Mr. Yan Lihua, its founder and CEO, has resigned from the office.
(Photo: http://www.xprn.com/xprn/sa/200807032217.jpg )
This leadership change is believed to be an inevitable choice in the
development of emerging enterprises. The separation of ownership and
management is a natural evolution in the life cycle of enterprises. Previously,
companies such as Shanda and Targetmedia have already transitioned from
management by founders to management by professional managers.
Founded by Mr. Yan Lihua in 2003, Towona Media has developed from a small
start-up based inXiamen to a fast-growing media group that has 26 subsidiary
companies across the country. Its vehicle-carried mobile TV network has an
audience of nearly 300 million. Both the city numbers and terminal numbers of
its media platform take the lead among its competition. The company underwent
three rounds of financing and well-known international investment institutions
such as CDH Investments, Cathay Inv Fund, Chengwei Fund, Walden International
and Baring Fund invested significant capital into Towona Media. The company
developed rapidly thanks to the input of this capital. Meanwhile, how to
select more excellent professional managers became an important subject. Its
founder and shareholders had been actively seeking across the world a leader
who could lead the company to accelerate its growth. Finally, Mr. Zhang was
selected.
Mr. Zhang is a seasoned entrepreneur and professional corporate manager
with considerable influence in the international media industry, especially in
Asia. He was formerly Executive Director of the board of directors of News
Corporation and Chairman/CEO of Star TV. He is also a visiting Professor of
Tsinghua University, Adjunction Professor of Communications University of
China and Honorary of Beijing Aeronautics and Astronautics University. He was
President of McDonnell Douglas Asia, President of Hughes International, and
President of DirecTV International. Mr. Zhang was also Independent Board
Director of Apple, Palm, Agile software, and SRS Labs. He is currently serving
on the Boards of NeuStar and the Advisory Council of Nike. He has extensive
experience in corporate management and is a pioneer in global satellite TV
broadcasting.
Mr. Yan Lihua, founder of the company, congratulated Mr. Zhang at the
Meeting for General Managers of the Company's subsidiaries. He said, "I am
very happy that Mr. Zhang Zhenzhong accepted our invitation to act as chairman
and CEO of Towona Media. He is a very experienced media expert and successful
entrepreneur equipped with international perspectives and extremely familiar
with media operations inChina. His joining will add tremendous strength to
the further development of Towona Media. I hope that he will lead Towona Media
to the world arena as an outstanding corporation." Mr. Yan also pointed out
that "mobile TV is an emerging media industry inChina that enjoys huge growth
potentials. This new industry needs both entrepreneurs who dare to explore new
areas with a pioneering spirit and professionals who are familiar with
operational mechanisms. Mr. Zhang's joining not only signals that Towona Media
has entered a new stage of development, but it also indicates that the mobile
TV industry inChina has evolved to a global level."
After accepting the appointment of the board of directors, Mr. Zhang said,
"As an outstanding media company, Towona Media boasts quality of service,
resourcefulness, healthy capital, and, more importantly, a passionate team. I
feel honored to serve as its CEO and chairman. Mr. Yan and his partners laid a
solid foundation for the company and have brought it onto a rapid development
track. The company has become a leader for mobile TV inChina with admirable
performances. My challenge will be leading Towona Media to be more customer
focused and value creating. Thus I will lead Towona Media and continue its
path as the leader in the mobile TV industry. I returned to my Chinese
homeland almost 30 years ago to start many technology and media businesses, I
hope that my time spent with Towona Media will be even more memorable and
successful."
SOURCE Towona Media
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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