Aerkomm Inc. Appoints Richmond Akumiah to its Board of Directors

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Sep 24, 2018, 08:00 ET

FREMONT, Calif., Sept. 24, 2018 /PRNewswire/ -- Aerkomm Inc. (OTCQX: AKOM) ("Aerkomm" or the "Company"), today announced that the Board of Directors (the "Board") of Aerkomm Inc. increased the size of the Board from six members to seven members and appointed Mr. Richmond Akumiah as the Company's seventh director, effective September 17, 2018.

Mr. Akumiah is an engineering and financial management professional with years of experience in decision support, budgeting, forecasting, credit analysis, cost accounting, mergers and acquisitions, quantitative analysis, financial and operational analysis, strategic planning and corporate development. Since September 2018, Mr. Akumiah has been employed as a Senior Advisor, Investments and Operations by the State of New Jersey, Division of Investment. From 2014 to 2018, Mr. Akumiah was a research consultant at WorldQuant LLC, a Greenwich, Connecticut based investment management firm. Prior to that, from 2009 to 2013, Mr. Akumiah was employed as a consultant for Wolters Kluwer. Mr. Akumiah was earlier employed in a number of positions in various financial management capacities including at AT&T where he served as Director of Finance in the Business Case Center of Excellence managing the company's investment in IP and Managed Services. Mr. Akumiah has also served as Chief Financial Officer of Hands On Network (Points of Light).

Mr. Akumiah obtained a Master of Business Administration degree in Finance from New York University, in 1982, and a bachelor's degree in Engineering from Harvard University, in 1980. Mr. Akumiah is an associate member of the American Society of Civil Engineers.

There are no arrangements or understandings between Mr. Akumiah and any other persons pursuant to which he was elected as a director. There is no family relationship that exists between Mr. Akumiah and any directors or executive officers of the Company. In addition, there has been no transaction, nor is there any currently proposed transaction between Mr. Akumiah and the Company, that would require disclosure under Item 404(a) of Regulation S-K.

Aerkomm Inc. Chairman and CEO Jeffrey Wun said, "We are very grateful to have Mr. Akumiah join our board. He brings a wealth of knowledge and experience which will help shape the future of Aerkomm."

About Aerkomm, Inc.

Aerkomm Inc. (OTCQX: AKOM), operating through its wholly owned subsidiary, Aircom Pacific, Inc., is a development stage service provider of in-flight entertainment and connectivity solutions for the airline industry. The Company strives to become a leading provider of a wide range of in-flight broadband entertainment and connectivity services, including Wi-Fi connectivity, cellular networks, movies, gaming, live television, and music. Aerkomm aims to reshape the market for in-flight entertainment and connectivity services by offering on-board connectivity to its airline partners and passengers for free, generating revenue through advertising and on-board transactions.

More information about Aerkomm is available at www.aerkomm.com.

Safe Harbor Statement

This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Registration Statement on Form S-1 filed with the SEC (SEC File No. 333-222208) on December 20, 2017, as declared effective on May 7, 2018, and supplemented to date. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Investor Relations Contacts:

Jeremy Roe, Managing Partner
Integra Consulting Group LLC
[email protected]
+1 (925) 262-8305

SOURCE Aerkomm Inc.