Will China Techfaith Wireless' Board Changes Bring Stability to the Stock? (CNTF)

 |  Includes: ASIA, CNTF
by: SA Editors

China Techfaith Wireless (ticker: CNTF) announced the appointment of two new independent directors earlier today. From the company's press release:

Ms. Ying Han has been Executive Vice President and Chief Financial Officer of AsiaInfo Holdings, Inc. (Nasdaq: ASIA - News) since 1998. From 1989 to 1998, Ms. Han worked in different positions at Hewlett-Packard (China), including as Chief Controller and Business Development Director, Finance Manager and Business Administration Manager of Service Organization. Ms. Han received a Bachelor's degree in Western Accounting from Xiamen University.

Dr. Tom Zhang is a Co-founder, Director and Executive Vice President of Vimicro International Corporation (Nasdaq: VIMC - News), a leading fables semiconductor company in China founded in 1999. Dr. Zhang also serves as Secretary General of Mobile Multimedia Technology Alliance (MMTA) in China, Director of Microsoft-Vimicro Multimedia Center and Director of the Tsinghua-Vimicro Semiconductor Research Center. Dr. Zhang received a Bachelor's degree from the University of Science & Technology of China and a Ph.D. degree in Electrical Engineering from the University of California at Berkeley.

Comment: Many of you called the bottom of the last CNTF rally. What do you think now? Are these seemingly positive board additions a sign of good things to come?

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