CHINA, Beijing – Hollysys Automation Technologies, Ltd. (NASDAQ: HOLI) (“Hollysys” or the “Company”), a leading provider of automation and control technologies and applications in China, today announced that Dr. Changli Wang resigned from his positions of the Chairman and Chief Executive Officer of Hollysys Automation Technologies Ltd., the listing entity, and spend more time and efforts on the company’s international business and will stay on the position of the President of Hollysys International Pte. Ltd. Dr. Jianfeng He, the Chief Operating Officer of the company is elected as the Chairman of the Board, and Mr. Baiqing Shao, Senior Vice President, Business Development of the Company as the Chief Executive Officer of the company on a Board Meeting held on November 30th, 2013, and effective immediately after the Board resolution.
Hollysys’ dream is to become an evergreen internationally recognized automation technology company. With such an ambitious goal, Dr. Wang believes that the dream can never be achieved by one generation. He believes that there will be more younger and more energetic and capable generations together to drive the company more competitive in the world, and he wants to give the space to more capable persons instead of taking Hollysys as his own company.
Dr. Wang made the decision through many years of serious consideration and preparation, and he believed that his resignation will be beneficial for the company’s long term growth and his successors are more qualified than him to take the management positions.
In the future, he will stand in a different position to better evaluate the market and technology development trend and grow the company in the world arena. He will continue to closely focus on the company’s development and provide suggestions, help the company to develop its international business, to build the company to be an internationally famous automation and control technology company.
Dr. Wang said: “This year is Hollysys’ 20 years anniversary, looking back we are proud of the past 20 years achievement and growth, nowadays I am more confident for the automation market in China with the enormous automation opportunities, and our strengthening competitiveness and the competition landscape change in China. I don’t want to build Hollysys to be my own company, but to be an open platform for any talented Hollysys person to grow and realize their dreams.”
Dr. Wang has prepared for stepping down his positions for many years since the company listed on Nasdaq in 2008, in the recent few years he gradually reduced his influence and gave more space and power to other senior management including Dr. Jianfeng He, Mr. Baiqing Shao and other senior management team. The company’s operation was under a well established management scheme and a committee of eight senior managers taking charge of individual business sectors, supervising each other and make the decision by the committee jointly. Dr. Wang is very satisfied with their work and believes they can perform better than him.
Dr. Jianfeng He joined Hollysys in 1997, serving the company for 16 years, and served as the General Manager of Hollysys Group since 2010. Before that, he was the general manager of Beijing Hollysys from 2008 to 2010, and general manager of Hangzhou Hollysys from 2004 to 2008; Dr. He made great contributions in driving the company’s growth and delivered productive results, the Board of Directors of the company believe that he is well qualified to take the position of the company’s Chairman of the Board given his rich experience and capability.
Mr. Baiqing Shao, the co-founder of the company, participated in the first batch of automation control systems development since the company’s inception in 1993, and served various important positions consecutively during the company’s development, including core businesses’ management, R&D and etc. With his profound knowledge and experience, he was elected as the Chief Executive Officer by the Board.
Dr. Jianfeng He said: “Thanks Dr. Wang for all of his contribution to the company, he is an extraordinary leader, a great teacher and a well respected person; he set a good example for everyone in Hollysys. We will follow his steps and stand on the shoulders of the giant person and other predecessors who have devoted their most valuable time to Hollysys, and continue to step towards realizing our dream to be a century old international famous automation and control technology company from China. We believe that the demographic change will present automation companies a great potential to replace labor by the leading technologies and our automation machines. With our successful track record, corporate capabilities, we will further execute our well set development plans and strategies to make sure the stable and healthy development of the company. I will work together with all of our colleagues in the company, work harder and devote our whole energy in building the company into a stronger automation technology provider.”
Mr. Baiqing Shao added: “Thanks Dr. Wang and the Board’s support and trust, I have been with the company since the company was founded in 1993, and feel proud of Hollysys’ achievements today. But more I feel is the responsibilities I will shoulder in the future. We have drafted and implemented a splendid development plan for the next five years, and we are very confident of the industrial automation and high-speed rail’s existing and new business areas in the international market. With the recovery of China’s economy growth, demographic change, and recovery of rail development, and our intensified efforts in the marketing and penetration into international market, we have laid solid foundation for the company’s long term development. With the guiding principle of automation for better life, we will continue to drive the company to one of the leading automation solution providers in the world.”
About Hollysys Automation Technologies, Ltd
Hollysys Automation Technologies is a leading provider of automation and control technologies and applications in China that enables its diversified industry and utility customers to improve operating safety, reliability, and efficiency. Founded in 1993, Hollysys has approximately 3,800 employees with nationwide presence in over 60 cities in China, with subsidiaries and offices in Singapore, Malaysia, Dubai, India, and serves over 5,000 customers more than 20,000 projects in the industrial, railway, subway & nuclear industries in China, South-East Asia, and the Middle East. Its proprietary technologies are applied in its industrial automation solution suite including DCS (Distributed Control System), PLC (Programmable Logic Controller), RMIS (Real-time Management Information System), HAMS (HolliAS Asset Management System), OTS (Operator Training System), HolliAS BATCH (Batch Application Package), HolliAS APC Suite (Advanced Process Control Package), SIS (Safety Instrumentation System), high-speed railway signaling system of TCC (Train Control Center), ATP (Automatic Train Protection), Subway Supervisory and Control platform, SCADA (Surveillance Control and Data Acquisition), nuclear conventional island automation and control system and other products.
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