UCLOUDLINK GROUP INC. Announces Changes to Senior Management Roles

Rhea-AI Summary

On September 28, 2020, uCloudlink Group Inc. (NASDAQ: UCL) announced key management changes to enhance operational efficiency. Xinquan (Victor) Xu has been appointed Chief Sales Officer and President of Marketing and Sales, while Zhu Tan becomes Vice President of Marketing and Sales. Wen Gao transitions to Chief Strategy Officer. These strategic shifts are aimed at aligning leadership roles with the company’s growth objectives, as stated by CEO Chaohui Chen. uCloudlink continues to focus on redefining mobile data connectivity, leveraging its innovative cloud SIM technology.

Positive

• Management restructuring is aimed at improving operational efficiency.
• Key appointments signal strategic alignment with growth objectives.

Negative

• None.

HONG KONG, Sept. 28, 2020 (GLOBE NEWSWIRE) -- UCLOUDLINK GROUP INC. (“uCloudlink” or the “Company”) (NASDAQ: UCL), the world’s first and leading mobile data traffic sharing marketplace, today announced recent role changes for its senior management. Xinquan (Victor) Xu, currently Co-Chief Sales Officer, will assume the role of Chief Sales Officer and President of Marketing and Sales. Zhu Tan, currently Chief Strategy Officer, will assume the role of Vice President of Marketing and Sales. Finally, Wen Gao, currently Chief Sales Officer, will assume the role of Chief Strategy Officer.

These changes took effect on September 25, 2020.

“The move to restructure these management roles was designed to better align senior leadership positions with the strategic development needs of our business, as the Company continues its endeavors to improve managerial and operational efficiency, explore market opportunities worldwide, and deliver sustainable growth,” said Chaohui Chen, Director and CEO of uCloudlink. “I am confident uCloudlink will continue to succeed as we execute on our long-term growth plan to redefine the mobile data connectivity experience and capture the tremendous business opportunities globally.”

About UCLOUDLINK GROUP INC.

uCloudlink is the world’s first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company’s products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, all while providing reliable connectivity, high speeds and competitive pricing.

For more information, please visit: http://ir.ucloudlink.com 

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. uCloudlink may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about uCloudlink’s beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: uCloudlink’s strategies; uCloudlink’s future business development, financial condition and results of operations; uCloudlink’s ability to increase its user base and usage of its mobile data connectivity services, and improve operational efficiency; competition in the global mobile data connectivity service industry; changes in uCloudlink’s revenues, costs or expenditures; governmental policies and regulations relating to the global mobile data connectivity service industry, general economic and business conditions globally and in China; the impact of the COVID-19 pandemic to uCloudlink’s business operations and the economy in China and elsewhere generally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and uCloudlink undertakes no duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

UCLOUDLINK GROUP INC.
Bob Shen
Tel: +852-2180-6111
E-mail: ir@ucloudlink.com

The Piacente Group, Inc.
Yang Song
Tel: +86-10-6508-0677
E-mail: UCL@tpg-ir.com

In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: UCL@tpg-ir.com

FAQ

What recent management changes occurred at uCloudlink on September 25, 2020?

uCloudlink announced significant management changes, including Xinquan Xu becoming Chief Sales Officer and President of Marketing and Sales, Zhu Tan as Vice President of Marketing and Sales, and Wen Gao as Chief Strategy Officer.

How does uCloudlink plan to enhance its business operations?

The company aims to enhance business operations through a restructuring of its senior management to align with strategic development needs and improve efficiency.

What is the stock symbol for uCloudlink?

The stock symbol for uCloudlink is UCL.

Why did uCloudlink restructure its management?

uCloudlink restructured its management to better align leadership roles with the strategic needs of its business and to support sustainable growth.

What is uCloudlink's business focus?

uCloudlink focuses on the mobile data connectivity market, leveraging its cloud SIM technology to provide unique solutions for users and telecommunications companies.