FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For March 29, 2007
DESWELL INDUSTRIES, INC.
(Registrant's name in English)
17B Edificio Comercial Rodrigues
599 Avenida Da Praia Grande,
Macao, China
(Address of principal executive offices)
Deswell Industries Inc. Appoints New Chief Executive Officer
MACAO--(BUSINESS WIRE)--Feb. 7, 2007--Deswell Industries, Inc.
(Nasdaq: DSWL) announced that Mr. Franki S.F. Tse has been appointed
Chief Executive Officer ("CEO") of the Company. Mr. Richard Lau has
retired from the post of CEO but will remain Chairman of the Board.
Mr. Tse, 43, has over 19 years experience in the tool-making,
plastic injection and electronic OEM industry. He was most recently
Vice President of Operations for Goodbaby Child Products Co. Ltd., a
leading baby products manufacturing company in Shanghai, China with
approximately 15,000 workers. From 2001 to 2005 Mr. Tse served as
Director of marketing of Deswell's plastic subsidiary, Jetcrown
Industrial (Dongguan) Ltd. During 1988 to 2000, Mr. Tse was in charge
of China Sales Business Division of Qualidux Industrial Co., Ltd., an
ODM/OEM plastics manufacturing group of companies. Mr. Tse received
his MBA in Business Finance from the University of Lincoln, United
Kingdom.
Mr. Richard Lau, Chairman of Deswell Industries, commented, "I am
very pleased to announce the appointment of Franki to the role of CEO.
I worked with Franki while he was with Jetcrown and he unquestionably
has the experience, leadership skill and energy to drive Deswell's
long term growth. He is coming into the role at an exciting time.
Jetcrown, our plastics subsidiary, has grown to be one of the premier
injection molders in China with a state-of-the-art facility. Kwanasia,
our electronic assembly subsidiary, has evolved over the past decade
to become one of the most respected manufacturers of audio equipment.
Franki's unique combination of operating and marketing skills make him
the perfect individual for the job. I look forward to remaining active
in the role as Chairman and advising and assisting management whenever
necessary."
About Deswell
Deswell manufactures injection-molded plastic parts and
components, electronic products and subassemblies, and metallic
products for original equipment manufacturers ("OEMs") and contract
manufacturers at its factories in the People's Republic of China. The
Company produces a wide variety of plastic parts and components used
in the manufacture of consumer and industrial products; printed
circuit board assemblies using surface mount ("SMT") and finished
products such as telephones, telephone answering machines,
sophisticated studio-quality audio equipment and computer peripherals.
The Company's customers include Digidesign Inc., Vtech
Telecommunications Ltd., Epson Precision (H.K.) Ltd., Inter-Tel
Incorporated, Line 6 Manufacturing and Peavey Electronics Corporation.
To learn more about Deswell Industries, Inc., please visit the
Company's web site at www.deswell.com.
CONTACT: Institutional Marketing Services (IMS)
John G. Nesbett, 203-972-9200
jnesbett@institutionalms.com
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
For and on behalf of
Deswell Industries, Inc.
by
/s/ Eliza Pang
------------------------
Eliza Pang
Chief Financial Officer
Date: March 23, 2007