New CEO for GigaMedia
John Stringer replaces Yichin Lee, who has stepped down after just nine months in the role.
Everest Poker part-owner GigaMedia has appointed a new chief executive for the second time in less than a year after Yichin Lee stepped down from the role to “to return to his own professional services business”.
Lee, who took up the role nine months ago after the previous incumbent Arthur Wang retired, has been replaced by John Stringer.
Stringer formerly served as CEO of Taiwan-based computing solutions provider Wyse Technology between 1998-2006, heading up its US$1.2bn Taiwan Stock Exchange float in 1999, and also had a spell as executive VP and general manager of Network Associates Inc in the 1990s before the company was renamed McAfee.
The former chief executive is the second senior figure to leave GigaMedia in recent months, after president and COO Thomas Hui stepped down in November.
One week after Hui’s departure, the company recorded a 12% quarter-on-quarter decline in revenues, forcing Lee to admit the company needed to “change course” as “our strategy as a publisher [of games] is not working.”
In October the company had been warned that it risked being delisted from the Nasdaq if it failed to comply with the exchange’s minimum bid-price rule.