GigaMedia appoints new CEO

Lee, who joined GigaMedia's board as an independent director in September 2003, has over two decades of management consulting and operational experience, a strong and deep track record of successfully guiding and building international technology businesses. Wang will remain on the board of directors and serve as a special advisor to the new CEO.

"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," stated Arthur Wang. "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."

"Yichin Lee is the perfect combination for GigaMedia: both a strategic thinker and a veteran technology executive," stated GigaMedia Chairman Michael Ding. "His energetic leadership style and experience in driving innovation and operational excellence will help GigaMedia leverage its strategic position and robust balance sheet to deliver strong growth."

"I am very excited to be taking on this new role at GigaMedia," stated new CEO Yichin Lee. "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."