Hypercom names TK Cheung SVP and GM, Asia-Pacific

Source: Hypercom

Hypercom Corporation (NYSE:HYC) announced today the appointment of TK Cheung as Senior Vice President and General Manager - Hypercom Asia-Pacific.

Previously associated with Hypercom Asia-Pacific for seven years, Mr. Cheung is returning to Hypercom from a private consulting practice. Based in Hong Kong, he reports to Emilian Elefteratos, Senior Vice President - International Sales.

With Mr. Cheung's appointment, Hypercom has refocused its operations in the People's Republic of China. The Company will retain and build channel sales and technical personnel in the cities of Beijing, Shanghai, Guangzhou and Shenzhen today; and potentially other cities in the future, to support Hypercom resellers who will now serve as the Company's exclusive representatives in China. Through this more focused distribution and service channel, Hypercom and its authorized resellers will support financial institutions and merchants throughout China with high security, high-speed, payment and transaction products. These actions signal the Company's recommitment to the Chinese market with enhanced customer service through Hypercom's in-country reseller channels, and build on Hypercom's recently announced initiative to increase global market share. This refocusing effort has resulted in the elimination of 20 positions associated with the Company's operations in those cities.

"With these actions, we are strengthening our ability to support our current customers in China as well as increase our penetration in this very important growth market," said Mr. Elefteratos. "We have a broad portfolio of advanced, secure and value-priced terminals, applications, networking, transport and value-added services that can help financial institutions and merchants compete in today's highly competitive business climate, and this reorganization will assist us in taking full and prompt advantage of every available business opportunity."

About TK Cheung

Mr. Cheung has 26 years of experience in the telecommunications and electronic payment industries. He has held a number of international and US-based posts for Hypercom. As President of Hypercom Network Systems, Mr. Cheung was instrumental in bringing the company's innovative custom network management products to many of the world's leading financial institutions and large networks in Asia, Europe, Latin America and the United States.

As Vice President, Product Management for Hypercom Network Systems, he was directly responsible for overseeing the development and introduction of the company's network gateway products, including the flagship MegaNAC 180 and V.29 FastPOS dial technology. As the Company's network consultant based in Hong Kong, his efforts nearly doubled the number of resellers and generated $43 million in revenues.

Before joining Hypercom in 1991, Mr. Cheung spent 13 years with American Express. In his last position as a telecommunications network consultant, he was based in Hong Kong and responsible for directing that company's planning and account services in Asia-Pacific and Australia. He collaborated in the planning, design and implementation of the company's telecommunications infrastructure in Auckland, Beijing, Hong Kong, Jakarta, Manila, New Delhi, Kuala Lumpur, Seoul and Taipei. Additionally, as a member of the American Express LAN/WAN steering committee, he helped define strategies and direction for future use and deployment within the organization.

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