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The Associated Press August 26, 2011, 11:04AM ET

UTStarcom CFO Cheng leaving the company

The chief financial officer at UTStarcom Holdings is leaving the telecommunications company.

Edmond Cheng will be replaced by Vice President of Finance Jin Jiang, effective Sept. 1, the company said Friday.

UTStarcom said Cheng is pursuing other opportunities.

Jiang has worked at UTStarcom since October 2009, when she was its corporate controller. She was promoted to vice president of finance in March.

Before working at UTStarcom Jiang served as corporate controller for Embarcadero Technologies, Inc. and held the same position at Red Envelope Inc.

UTStarcom sells its services to cable TV and telecommunications providers. The company was based in Alameda, Calif., until last year and is now headquartered in Beijing.

Shares of UTStarcom Holdings Corp gained 2 cents to $1.22 in morning trading.

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