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Ivan Hsia To Depart Asia Pacific Wire & Cable Corporation Limited

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Asia Pacific Wire & Cable (APWC) has announced the appointment of James Lu as acting Chief Financial Officer (CFO), following the resignation of Ivan Hsia. Lu, who has been with APWC for 16 years, previously served as Deputy CFO and held senior roles in Corporate Planning and Strategic Sales. He brings experience in implementing SAP Business Planning systems and has prior experience as Senior Manager of Overseas Business and as an auditor. Hsia will remain with the company through November 25, 2024.

Asia Pacific Wire & Cable (APWC) ha annunciato la nomina di James Lu come CFO ad interim, a seguito delle dimissioni di Ivan Hsia. Lu, che è in APWC da 16 anni, ha precedentemente ricoperto il ruolo di Vice CFO e ha ricoperto posizioni senior nella Pianificazione Aziendale e nelle Vendite Strategiche. Porta con sé esperienza nell'implementazione di sistemi di Pianificazione Aziendale SAP e ha una precedente esperienza come Direttore Senior dell'Affari Esteri e come revisore. Hsia rimarrà con l'azienda fino al 25 novembre 2024.

Asia Pacific Wire & Cable (APWC) ha anunciado el nombramiento de James Lu como Director Financiero Interino (CFO), tras la renuncia de Ivan Hsia. Lu, que lleva 16 años en APWC, anteriormente se desempeñó como Vice CFO y ocupó cargos senior en Planificación Corporativa y Ventas Estratégicas. Aporta experiencia en la implementación de sistemas de Planificación Empresarial SAP y cuenta con experiencia previa como Gerente Senior de Negocios Internacionales y como auditor. Hsia permanecerá en la empresa hasta el 25 de noviembre de 2024.

아시아 태평양 와이어 & 케이블 (APWC)은 제임스 루(James Lu)를 임시 최고 재무 책임자(CFO)로 임명했다고 발표했습니다. 이는 이반 샤(Ivan Hsia)의 사임에 따른 것입니다. 루는 APWC에서 16년 동안 근무했으며, 이전에는 부 CFO로 재직했으며 기업 기획 및 전략적 판매 분야에서 고위직을 담당했습니다. 그는 SAP 비즈니스 플래닝 시스템 구현 경험을 보유하고 있으며, 해외 사업의 시니어 매니저 및 감사인으로서의 경력도 있습니다. 샤는 2024년 11월 25일까지 회사에 남아 있을 것입니다.

Asia Pacific Wire & Cable (APWC) a annoncé la nomination de James Lu en tant que Directeur Financier par intérim (CFO), suite à la démission d'Ivan Hsia. Lu, qui est chez APWC depuis 16 ans, a précédemment occupé le poste de Directeur Financier adjoint et a occupé des fonctions clés dans la Planification d'Entreprise et les Ventes Stratégiques. Il apporte son expérience dans la mise en œuvre de systèmes de Planification d'Entreprise SAP et possède également une expérience antérieure en tant que Responsable Senior des Affaires Internationales et comme auditeur. Hsia restera dans l'entreprise jusqu'au 25 novembre 2024.

Asia Pacific Wire & Cable (APWC) hat die Ernennung von James Lu zum kommissarischen Finanzvorstand (CFO) bekannt gegeben, nachdem Ivan Hsia zurückgetreten ist. Lu, der seit 16 Jahren bei APWC ist, war zuvor stellvertretender CFO und hatte leitende Positionen in der Unternehmensplanung und im strategischen Vertrieb inne. Er bringt Erfahrung in der Implementierung von SAP-Geschäftsplanungsystemen mit und hat zuvor als Senior Manager für Auslandsgeschäfte sowie als Prüfer gearbeitet. Hsia wird bis zum 25. November 2024 im Unternehmen bleiben.

Positive
  • Smooth leadership transition with immediate appointment of acting CFO
  • New acting CFO brings 16 years of company experience
  • Acting CFO has relevant experience in implementing financial systems
Negative
  • Departure of CFO could create temporary leadership uncertainty
  • Need for executive search indicates lack of permanent replacement

TAIPEI, Taiwan, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (Nasdaq:APWC) today announced that Mr. James Lu, APWC’s Deputy Chief Financial Officer, has been named acting Chief Financial Officer (CFO) effective immediately. The appointment follows the resignation of Ivan Hsia, CFO, who will remain with the company through November 25, 2024.

“I thank Ivan for his years of service and dedication to APWC and wish him well in his future endeavors. We are pleased to have a strong talent in James to serve in the interim while APWC conducts an executive search for a new CFO,” said Yuan Chun Tang, Chief Executive Officer of APWC.

Since joining APWC 16 years ago, Mr. Lu has held senior leadership roles in its Corporate Planning Division and Strategic Sales Department and served as Senior Manager - Office of the Chief Financial Officer. Mr. Lu is familiar with the operating conditions of APWC’s subsidiaries and was involved in implementing the SAP Business Planning and Consolidation software application.

Before joining APWC, Mr. Lu held roles as Senior Manager of the Overseas Business Department at a Taiwan-based computer and motherboard manufacturer and as an auditor at two certified public accounting firms in Taiwan. Mr. Lu was conferred a Master of Business Administration degree from Lincoln University and received his undergraduate degree from Taiwan’s Oxford College majoring in accounting and statistics.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the Company, its business, and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes”, “anticipates”, “expects”, “estimates”, “intends”, “plans” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as believed, anticipated, expected, estimated, intended or planned. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

Investor Relations Contact:

Pacific Holdings Group
Attn: Paul Weber
2901 Dallas Parkway, Suite 360
Plano, TX 75093
Phone: (469) 797-7191
Email: pweber@pusa.com


FAQ

Who is the new acting CFO of APWC?

James Lu, previously Deputy CFO, has been appointed as acting Chief Financial Officer of APWC effective immediately.

When is Ivan Hsia leaving APWC?

Ivan Hsia will remain with APWC through November 25, 2024.

What is James Lu's background at APWC?

James Lu has been with APWC for 16 years, holding senior roles in Corporate Planning Division and Strategic Sales Department, and served as Senior Manager in the Office of the Chief Financial Officer.

Is APWC searching for a permanent CFO?

Yes, APWC is conducting an executive search for a new permanent CFO while James Lu serves in an interim capacity.

Asia Pacific Wire & Cable Corp

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