Hong Kong - CITIC Telecom International CPC Limited ("CITIC Telecom CPC"), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited ("CITIC Telecom", "the Group", SEHK: 1883) is pleased to announce the appointment of Mr. Frank Cai (Dawei CAI) to be the Vice Chairman of CITIC Telecom CPC effective 28th February. Further, Mr. Stephen Ho has determined to retire from the company after nearly 20 years of service and to step down from CEO of the company effective 31st January 2020. Mr. Esmond Li (Bing Chi, LI), Chief Financial Officer of CITIC Telecom has been appointed to the additional role of CEO of CITIC Telecom CPC effective 1st February, 2020.Mr. Cai has more than 20 years of experience in the field of telecommunications, possessing thorough understanding and great achievement in areas of business and network operations and management, communication and information technology development, as well as outstanding contributions in new business expansions.
"The recent economic situation is challenging and I'm excited to be joining CITIC Telecom CPC at this point of time to continue unleashing the Company's full potential," said Mr. Cai. "CITIC Telecom CPC is well-developed as a Global Local ICT solutions partner with service coverage across major and high potential countries and cities, including places along the Belt and Road. It demonstrates the Company's insightful direction and strategy which set it apart from other service providers. I look forward to continuously evolve and grow by creating more synergies and shared vision with the Group, to leading CITIC Telecom CPC to create more possibilities, and reaching new heights."
Agreeing with Mr. Cai, Mr. Li added, "It is my honor to take up the role of CEO at CITIC Telecom CPC. I had worked as Chief Financial Officer of CITIC Telecom CPC from 2004 to August 2019, witnessed the Company's success in its business transformation and maximizing the returns." "CITIC Telecom CPC not only has comprehensive suite of ICT solutions addressing to different industries' needs, but also high-quality staff to transform business strategies to real assets. I believe that 'people' is one of the key factors to move the Company forward. To join hands with the Group and management, I will continue to drive steadfastly in growing the company and achieving greater footprint with the team" Mr. Li said.
Bringing with him a wealth of 35 years of extensive experience in the finance and accounting field, Mr. Li has strong analytical skills and entrepreneurial mindset that are essential to drive the growth of a company.
"Looking ahead, we will join hands to expanding CITIC Telecom CPC with breadth and depth, reinforcing the Company motto 'Innovation Never Stops' and leading the market with 'Global Local' ICT capabilities," concluded Mr. Cai and Mr. Li.
About Mr. Frank Cai (Dawei, CAI)
Mr. Frank Cai is an Executive Director and Chief Executive Office of CITIC Telecom International Holdings Limited. While joining the new role as the Vice Chairman of CITIC Telecom CPC, he also acts as the Vice Chairman of China Enterprise ICT Solutions Limited ("China Entercom", subsidiary of CITIC Telecom CPC), and Corporate Representative of CITIC Telecom in the board of Companhia de Telecomunicacoes de Macau, S.A.R.L. ("CTM").
Prior to joining CITC Telecom Group companies, Mr. Cai had held various senior executive positions at China Telecommunications Corporation and China Netcom Corporation.
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