Dynex Announces Appointment of New Directors

11.04.12

Lincoln, England, April 11th, 2012 -- a leading specialist high power semiconductor company, today announced that Shu Lihui and Peter Tan had resigned from the Board following a board meeting held yesterday and that Richard Wu and George Guo had been appointed to replace them. The new appointments are made subject to the approval of the TSX Ventures Exchange.


Shu Lihui had served on the Board for three and a half years since the acquisition by Zhuzhou CSR Times Electric Co., Ltd (“CSR Times Electric”) of a majority of the shares of Dynex in October 2008. At the time of her appointment, she was the General Manager of the Power Electronics Business Unit of CSR Times Electric. She subsequently retired from that role and was appointed as a Consultant and Assistant to the General Manager of CSR Times Electric. Richard Wu, who replaces Shu Lihui on the Board, is already well known to Dynex. Richard is currently General Manager of the Power Electronics Business Unit of CSR Times Electric and so brings valuable experience of managing another power semiconductor business to the Board. 

Peter Tan also joined the Board of Dynex in October 2008 and for the last three and a half years has held the position of Sales and Marketing Director of Dynex Semiconductor Ltd based in Lincoln, England. Peter is returning to China to undertake a new role within CSR Times Electric. George Guo, who replaces Peter Tan, is currently Vice General Manager of the Power Electronics Business Unit of CSR Times Electric, is also well known to Dynex. In addition to joining the Board, George will be moving to Lincoln to take over from Peter Tan as the new Sales and Marketing Director of Dynex Semiconductor Ltd. 

Li Donglin, General Manager of CSR Times Electric and Chairman of Dynex thanked Shu Lihui and Peter Tan for their valuable contributions to the Dynex Board and especially the roles both have played in ensuring the smooth integration of Dynex into the CSR Times Electric group. 

Dr. Paul Taylor, President and Chief Executive Officer of Dynex, commented on how pleased he was to have had the services of Shu Lihui and Peter Tan. Shu Lihui brought the insights of an experienced and successful leader who had run a semiconductor manufacturing business in China. Peter Tan had been involved with Dynex at the start of CSR Times Electric’s interest in acquiring Dynex. Dr. Taylor added that the Company would miss their involvement and wise counsel and he wished them both great success in the future. Dr. Taylor also welcomed the new Directors. 
 

For more information:

Dr. Paul Taylor
President and Chief Executive Officer
or
Bob Lockwood
Chief Financial Officer
Dynex Power Inc.
Tel: UK +44 1522 500500
Email: investorrelations@dynexsemi.com