New CFO for Gigamedia

Forging ahead on its restructuring drive, GigaMedia Limited has appointed Dirk Chen to the position of chief financial officer.

Chen has spent his 30-year career with Taiwan-based Chailease Finance in various roles including senior advisor, president and chief financial officer, prior to which he served as chief financial officer of the publicly listed firm Financial One Corp in Singapore.

“New financial management for the new Giga and expertise in turning around and growing challenged companies – we are delighted to add Dirk to our team,” said GigaMedia chief executive officer John Stringer. “His combination of financial, team-building and leadership skills, and his proven ability to develop financial solutions for superior performance will help us drive and manage growth.”

Serving as a GigaMedia board member and special advisor since November 2011, Chen will succeed Quincy Tang, who will assume the role of special advisor to GigaMedia.

The company appointed John Stringer as chief executive officer last month, replacing Yichin Lee after a short nine-month stint in the position .