Thursday, June 5, 2008
Syntax-Brillian Shuffles Senior Management, Board
High-definition television manufacturer Syntax-Brillian Corp. reported several changes to its board of directors and its senior management Thursday. The Tempe, Ariz.-based company said it has appointed Greg Rayburn as interim chief executive officer, effective immediately. Rayburn, who had served as interim chief operating officer since April 16, replaces James Ching Hua Li, who has taken an indefinite leave of absence for personal reasons. Syntax-Brillian said Li will remain on the company’s board and continue to be compensated per his employment agreement. Syntax-Brillian also reported that two of its directors have recently resigned: Man Kit "Thomas" Chow stepped down on May 28, and Christopher C.L. Liu followed suit two days later. Syntax-Brillian said the resignations are part of its ongoing efforts to restructure its corporate governance. The company has navigated some rough waters in the past few months, a stretch that includes two Nasdaq de-listing warning notices, the sale of its liquid-crystal-on-silicon manufacturing unit, and a class-action lawsuit filed on behalf of its investors. Additionally, Li announced on April 1 that he would reduce his annual base salary to $1 as a demonstration of his commitment to the company's turnaround plan. Li founded the Syntax and Olevia brands and was named CEO on Oct. 1.