BEIJING, June 7, 2012 (GLOBE NEWSWIRE) -- ChinaCache International Holdings Ltd. ("ChinaCache" or the "Company") (Nasdaq:CCIH), the leading total solutions provider of internet content and application delivery services in China, today announced the appointment of Mr. Michael Ricks as a director of the Company, effective June 06, 2012. Mr. Ricks replaces Mr. Paul Jin-Hwee Choo, who has resigned from the position as a director for personal reasons. Mr. Choo had no disagreements with the Company.
Michael Ricks has served as the Managing Director and CEO of Investor Growth Capital Asia ("IGC") since its establishment in 2002, and served concurrently as a Managing Director in Investor Growth Capital's Menlo Park office from 2003 to 2008. Prior to joining IGC, Mr. Ricks served as CEO of imGO Limited, a publicly listed, Hong Kong based company that focused on technology investments. Prior to that, he was President and CEO of Ericsson China in the late 1990s. Mr. Ricks spent nearly 20 years in the telecommunications and IT industry, co-founding and/or running startups in the U.S. and Asia as well as taking management roles in the larger network equipment providers that acquired them. Mr. Ricks earned a B.A. from the University of California at San Diego and an M.B.A. from the University of Chicago Booth School of Business.
Mr. Ricks currently serves as a Director on the Boards of IGC-investee companies, including NSFOCUS Information Technology Co., Ltd., CDP Group Ltd., Xinghe Valve Co., Ltd., and Yuanyu Radio Advertising Ltd.. He also works with IGC's investments in China, such as China ITS (Holdings) Co., Ltd. (HKSE:1900), UIT Ltd. and Ruckus Wireless, Inc.
Following the implementation of these changes, the Company has eight directors on its board, five of whom are independent directors. The Company's audit committee and compensation committee will be exclusively comprised of independent directors.
"We are pleased to welcome Michael to our Board, his expertise in the technology sector and valuable experience will complement and expand the breadth of our Board," said Song Wang, the founder, chairman and chief executive officer of ChinaCache. "We also sincerely thank Mr. Choo for his past contributions."
About ChinaCache International Holdings Ltd.
ChinaCache International Holdings Ltd. (Nasdaq:CCIH) is the leading total solutions provider of internet content and application delivery services in China. As a carrier-neutral service provider, ChinaCache's network in China is interconnected with networks operated by all telecom carriers, major non-carriers and local Internet service providers. With more than a decade of experience in developing solutions tailored to China's complex internet infrastructure, ChinaCache is a partner of choice for businesses, government agencies and other enterprises to enhance the reliability and scalability of online services and applications and to improve end-user experience. For more information on ChinaCache, please visit en.chinacache.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" and similar statements. ChinaCache may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports 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 statements about ChinaCache'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 statements, including but not limited to the following: the Company's goals and strategies, expansion plans, the expected growth of the content and application delivery services market, the Company's expectations regarding keeping and strengthening our relationships with its customers, and the general economic and business conditions in the regions where the Company provide its solutions and services. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and ChinaCache undertakes no duty to update such information, except as required under applicable law.