Contact Information: Investor Relations Contact: Tham Kah Locke Vice President of Corporate Finance Tel: (65) 6824 7788 Fax: (65) 6720 7826 email: Media Contact: Lisa Lavin Deputy Director of Corporate Communications Tel: (208) 939 3104 Fax: (208) 939 4817 email:
STATS ChipPAC Appoints Chief Sales Officer
| Source: STATS ChipPAC
UNITED STATES--(Marketwire - March 25, 2008) - SINGAPORE -- 03/26/2008 -- STATS ChipPAC Ltd.
("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP), a leading
semiconductor test and advanced packaging service provider, today announced
the appointment of Hal Lasky as Executive Vice President and Chief Sales
Officer for the Company effective March 27, 2008.
Lasky will report directly to Tan Lay Koon, STATS ChipPAC's President and
Chief Executive Officer, and will have overall responsibility for the
Company's worldwide sales and product line management organization. He
will provide the leadership on the Company's business, customer and product
strategy. Lasky will be based in the United States.
"Hal is a world class executive with proven leadership and achievements in
managing large scale global sales and product line organizations in the
semiconductor industry. I am delighted that a person of Hal's caliber has
agreed to join our senior management team to help take STATS ChipPAC to the
next level of success," said Tan Lay Koon, President and Chief Executive
Officer, STATS ChipPAC.
"STATS ChipPAC is well positioned in the outsourced assembly and test
industry with a strong customer franchise, leading technology portfolio and
a strategic geographic footprint," said Lasky. "I am impressed with the
success of STATS ChipPAC since its formation in August 2004, and look
forward to contributing to its future success."
Prior to joining STATS ChipPAC, Lasky spent 24 years at IBM Corporation
where he held a number of key leadership positions, most recently as Vice
President of Worldwide Semiconductor Sales for IBM's Global Engineering
Solutions group with responsibility for IBM's worldwide semiconductor
revenue, sales strategy and strategic relationships with clients in the
consumer, communications and IT markets. Prior to that, he held various
senior management positions in IBM's Systems and Technology Group,
Microelectronics Business Line and Interconnect Products Business Line.
Lasky holds a Bachelor of Science degree in Ceramic Engineering from
Rutgers University and a Master's degree in Materials Science and
Engineering from Columbia University. He is also a graduate of the IBM
Client Executive Program at Harvard Business School.
Forward-Looking Statements
Certain statements in this release are forward-looking statements that
involve a number of risks and uncertainties that could cause actual events
or results to differ materially from those described in this release.
Factors that could cause actual results to differ include, but are not
limited to, general business and economic conditions and the state of the
semiconductor industry; level of competition; demand for end-use
applications products such as communications equipment and personal
computers; decisions by customers to discontinue outsourcing of test and
packaging services; our reliance on a small group of principal customers;
our continued success in technological innovations; pricing pressures,
including declines in average selling prices; availability of financing;
prevailing market conditions; our ability to meet the applicable
requirements for the termination of registration under the Exchange Act;
our ability to meet specific conditions imposed for the continued listing
or delisting of our ordinary shares on the SGX-ST; our substantial level of
indebtedness; potential impairment charges; delays in acquiring or
installing new equipment; adverse tax and other financial consequences if
the South Korean taxing authorities do not agree with our interpretation of
the applicable tax laws; our ability to develop and protect our
intellectual property; rescheduling or canceling of customer orders;
changes in our product mix; intellectual property rights disputes and
litigation; our capacity utilization; limitations imposed by our financing
arrangements which may limit our ability to maintain and grow our business;
changes in customer order patterns; shortages in supply of key components;
disruption of our operations; loss of key management or other personnel;
defects or malfunctions in our testing equipment or packages; changes in
environmental laws and regulations; exchange rate fluctuations; regulatory
approvals for further investments in our subsidiaries; majority ownership
by Temasek Holdings (Private) Limited ("Temasek") that may result in
conflicting interests with Temasek and our affiliates; unsuccessful
acquisitions and investments in other companies and businesses; labor union
problems in South Korea; uncertainties of conducting business in China and
other countries in Asia; natural calamities and disasters, including
outbreaks of epidemics and communicable diseases; and other risks described
from time to time in the Company's SEC filings, including its annual report
on Form 20-F dated March 7, 2008. You should not unduly rely on such
statements. We do not intend, and do not assume any obligation, to update
any forward-looking statements to reflect subsequent events or
circumstances.
About STATS ChipPAC Ltd.
STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company") (SGX-ST: STATSChP) is
a leading service provider of semiconductor packaging design, assembly,
test and distribution solutions in diverse end market applications
including communications, digital consumer and computing. With global
headquarters in Singapore, STATS ChipPAC has design, research and
development, manufacturing or customer support offices in 10 different
countries. STATS ChipPAC is listed on the Singapore Exchange Securities
Trading Limited (SGX-ST). Further information is available at
www.statschippac.com. Information contained in this website does not
constitute a part of this release.