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SciClone Hires a CFO

Tuesday - 7/16/2013, 4:08am  ET

SciClone has a new man leading its finance team. The company announced that it hired Wilson Cheung to be its new CFO. Cheung is a longtime executive who most recently served as chief compliance officer, Asia Pacific, at digital marketing agency Velti, following a stint as that company's CFO. Before that, he was CFO and corporate secretary at AXT and served in various managerial positions in firms such as KPMG and Yahoo!

Cheung will take up his new position on Tuesday. He will be paid $350,000 a year, will be given options to purchase up to 100,000 SciClone shares, and is eligible to receive an annual performance-based bonus of up to 40% of his salary.

His appointment comes on the heels of a sharp bottom-line fall in SciClone's most recent set of quarterly results, which were delayed because of restatement. 

This article was originally published as SciClone Hires a CFOon Fool.com

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