China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV" or the "Company"), the leading provider of cloud-based application platforms and conditional access ("CA") systems which enable China's digital cable television market to offer and secure diversified content services, today announced the appointment of Mr. Jianhua Zhu, co-founder of China Digital TV and a director of the Company's board of directors (the "Board"), as chief executive officer ("CEO") of the Company, effective June 30, 2015. Mr. Zhu replaces Dr. Zengxiang Lu, who has resigned from his position as acting CEO, effective June 30, 2015, and will remain chairman of the Board.
In addition, Dr. Jian Han has tendered his resignation as chief technology officer ("CTO") of the Company, effective June 16, 2015. Dr. Han's responsibilities as CTO will be delegated amongst the executive management team. Dr. Han will continue to serve as general manager of Cyber Cloud, a subsidiary of the Company.
"On behalf of the company, I would like to thank Dr. Lu for his service as acting CEO over the past year and his tremendous efforts in leading the Company," stated Mr. Jianhua Zhu, China Digital TV's chief executive officer. "As a co-founder of China Digital TV, Dr. Lu has been a key contributor to the Company's growth and positioning as a market leader. We look forward to his ongoing contributions in the development of emerging technologies and the strategic planning for the Company."
Mr. Zhu continued, "I would also like to thank Dr. Han for his significant contribution to our growth and development over the years as CTO. We look forward to his continuing support as general manager of our subsidiary Cyber Cloud, where Dr. Han will continue to focus on building the cloud platform business, a critical growth engine for us, as we evolve into a diversified cable TV service provider."