For Immediate Release
Hong Kong, March 20, 2001 -- TOM.COM LIMITED ('TOM' or 'Company', stock code 8001) today announced that Steven M. Bacica has been appointed Director of Finance of the company. He will report directly to the Chief Financial Officer ('CFO').
Bacica has extensive financial experience in Asia, and particularly in Greater China, and is well versed in the financial management of information technology, manufacturing, product service and distribution operations. This, together with his expertise in the implementation of joint ventures, will help strengthen TOM's operational management as it consolidates recent and future acquisitions in China.
He will assist the CFO to define the Company's financial and accounting policies and procedures, including financial planning and analysis, legal compliance and internal auditing functions. Bacica will play a major role to lead and direct all financial resources for all TOM's corporate structures, including wholly owned subsidiaries, representative offices and joint ventures. He will also be involved in merger and acquisition reviews and due diligence efforts.
In addition, Bacica's other duties will be to provide annual budgets and periodic forecasts; interpret operating results and propose actions to improve the Company's profitability; develop accounting procedures, policies and controls; and ensure compliance with the Growth Enterprise Market (GEM) regulatory requirements.
Bacica joins TOM from GWcom, Inc., where he has been Vice President, Finance - Asia, since 1999. Based in Beijing, he was the controller of all the offshore operations of this mobile content platform operator. Before that he was Vice President and Chief Financial Officer at Citibank Taiwan, the largest foreign bank in that country.
Previously he held a number of senior financial management positions in the Asia Pacific Region, including China, Taiwan, Hong Kong, Indonesia and elsewhere, during more than 20 years with the General Electric Company.
Press enquiries to:
Rachel Chan, TOM.COM LIMITED
Tel: 2121 7810; Fax: 2127 7576
e-mail: rachelc@hk.tom.com
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