Xodtec LED Announces Appointment of New Chief Financial Officer
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TAIPEI, Taiwan, Sept. 24, 2010 (GLOBE NEWSWIRE) -- Xodtec LED, Inc. (OTCBB:XODG) ("Xodtec" or the "Company"), a leading Taiwan-based LED lighting solutions and products provider, announced today that the Company has appointed Yuan-Fu Cheng as its new Chief Financial Officer. Mr. Yuan-Fu Cheng previously served as chief financial officer of SiPix Group, a producer of electronic paper and display solutions, from September 2005 through July 2010. SiPix is a venture financed company that includes AU Optronics, Goldman Sachs, BASF, and ING Barings as investors. From March 2004 to September 2005, Mr. Cheng served as vice president of the accounting division for Alpha Networks, Inc., a Taiwan-listed company. Mr. Cheng received his undergraduate degree in accounting from Soochow University and an executive master's degree in business administration from Tulane University. He is also certified to serve as an accounting and financial supervisor to Taiwan-listed companies. "We are extremely fortunate to have Mr. Cheng join Xodtec as its new Chief Financial Officer," stated Curtis Su, Chairman and Chief Executive Officer of Xodtec LED, Inc. "His experience at a venture financed company and also a Taiwan listed company will elevate the caliber of Xodtec's corporate governance, financial management and reporting. We are confident that his appointment will help Xodtec facilitate our future growth." About Xodtec LED, Inc. Xodtec is an energy-saving LED lighting solutions provider based in Taiwan. Xodtec provides high performance and cost-effective energy-saving LED solutions and lighting products for private companies, public facilities, residential communities, factories and households, providing optimal energy-saving solutions that meet today's energy management requirements. Please visit our website http://www.xodtec.com for detailed company information. The Xodtec Group USA, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7143 Forward-looking statements: The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based. CONTACT: Xodtec LED, Inc. Ethan Chang 011-886-2-2228-6276 firstname.lastname@example.org http://www.xodtec.com
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