|By Business Wire||
|March 9, 2010 04:34 PM EST||
MEMSIC, Inc.(NasdaqGM: MEMS), a leading MEMS solution provider, today announced the appointment of Steve Tsui as Vice President of Worldwide Sales - Systems Business. Mr. Tsui has more than 25 years of sales, marketing and general management experience with both large and start-up companies in the high-tech industry, including WaveSplitter Technologies, Acer America, and IBM.
In the six years that Mr. Tsui was Vice President of Sales at WaveSplitter Technologies, an optical component start-up company, he led his team to numerous multi-million dollar sales wins with many global telecommunication systems and networking companies such as Lucent, Siemens, NEC, Tellab and Cisco. Prior to joining WaveSplitter, he led Acer America’s sales organization for five years, where his team helped grow annual revenue by 25 times.
Mr. Tsui began his career with IBM in systems sales in the Bay Area, where he served for 13 years in sales and sales management positions of increasing responsibility. Born in Taiwan, he came to the U.S. to earn a BS in Industrial Engineering at the University of California Berkeley, and then went on to earn an MBA from Stanford Business School.
“Steve’s focus will be on developing MEMSIC’s worldwide system business in the industrial and aerospace markets – areas where the leading-edge solutions we recently acquired from Crossbow Technology will be particularly valuable. His bi-cultural background will serve us well as we execute our core growth strategy for the system business in Asia and Greater China,” said Dr. Yang Zhao, Chairman, President and CEO of MEMSIC. “Steve brings with him a wealth of sales and business experience that will help us drive growth and develop MEMSIC into a leading Wireless Sensor Network and inertial products companies.”
Mr. Tsui commented, “I am very excited at the prospect of joining MEMSIC and helping the company penetrate new markets with value-added and highly differentiated solutions. I see a myriad of opportunities for helping MEMSIC leverage its newly acquired technology assets by expanding its customer reach.”
About MEMSIC, Inc.
MEMSIC Inc., headquartered in Andover, Massachusetts, provides advanced semiconductor sensor and system solutions based on integrated micro-electromechanical systems (MEMS) technology and mixed signal circuit design. MEMSIC's unique and proprietary approach combines leading edge sensor technologies, such as magnetic sensors and accelerometers, with mixed signal processing circuitry to produce reliable, high quality, cost effective solutions for automotive, consumer and industrial markets. The company shares are listed on the NASDAQ Stock Exchange (NASDAQ GM: MEMS).
Safe Harbor Statement
Statements included in this press release that are not historical in nature are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of the company's management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements for reasons identified under the heading "Risk Factors" in the company's most recent annual report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date hereof, and the company does not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information or otherwise.
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