New chairman at Gigamedia

GigaMedia Limited’s board of directors has appointed Mo-Na Chien as its new chairman, replacing outgoing chairman Michael Ding with immediate effect.

Ding resigned his position citing increased commitments with other business interests including his current role as chairman and chief executive officer of Waterland Securities Co. Ltd.

Chien, who has been a member of the GigaMedia board for the past two years, has led several investment, finance, and technology firms and is well suited for the challenge said GigaMedia.

“GigaMedia’s turnaround is on track with leaner operations and new growth strategies now beginning to deliver improved financial results,” said Ding. “It is the right time for a leadership transition and I have absolute confidence in Mo-Na’s ability to lead GigaMedia forward.”

Other board changes include the appointment of Collin Hwang who currently serves as chairman and chief executive officer of Datadot Technology Asia & Taiwan, chairman of Cita Investment and Technology Development Co. Ltd and chairman and chief executive officer of Cita Aircargo Service Co. Ltd.

Existing board member Casey Tung will assume the role of Chairman of the audit committee, replacing Michael Ding.

The latest round of board movements brings GigaMedia’s board to nine members with than a majority as independent directors.