The company has named Winston Hsia as CFO, replacing Yichun Chang, but chief executive officer Raymond Chang will take on Chris Tung's operational responsibilities, pending his replacement.

Hsia has extensive expertise in finance, and is a former CFO and founder of an internet capital formation business, 01 Inc., in Korea. Prior to that, Hsia worked for seven years in the fixed income industry, including terms at Peregrine Investment Holdings and Lehman Brothers in Hong Kong. At Lehman Brothers, Hsia was responsible for fixed income sales to Taiwanese financial institutions and regional central banks.  

GigaMedia has also made two new appointments to its board - Nelson Chang and Paul Chiu. Chang is currently CEO of China Securities in Taipei and KG Investments Asia in Hong Kong, as well as chairman of Wyse Technology Inc in Hsin Chu, Taiwan. 

Chiu was minister of finance of Taiwan from 1996-2000. He is currently chairman of the board of Grand Cathay Securities in Taipei and a part-time professor of finance at National Taiwan University. Chiu's experience consists of more than 20 years of leadership in academics and the banking industry, including terms served as deputy governor of the Central Bank of China (Taiwan) and president of Hua-Nan Commercial Bank in Taipei.