China Digital TV Holding Co., Ltd. announced that Mr. Chaoyang Xia has resigned from the Company's Board of Directors effective January 10, 2014. The Board and the Nomination Committee of the Board have appointed Mr. Michael Elyakim as an independent director of the Board to replace Mr. Xia, effective January 10, 2014. Mr. Elyakim has led Aurec Capital's investment and operations in China since he joined as the director of APAC investments in 2011.

Aurec Capital targets the telecom, media, new media and mobile industries. Prior to joining Aurec Capital, Mr. Elyakim was the co-founder and managing partner of CIG Investment Fund, a strategic growth fund that aims to bring unique Israeli know-how and ingenuity to the Chinese healthcare sector. China Digital TV Holding Co., Ltd.