Forget about FUCKI... Here's my Chinese darling:
KongZhong Corporation Announces Change of Board of Directors
BEIJING, July 6 /PRNewswire-Asia/ -- KongZhong Corporation (Nasdaq: KONG), a leading provider of digital entertainment services for consumers in the PRC, today announced that the Company's Board of Directors has elected Mr. Jay Kenneth Chang to the Board, effective immediately. Mr. Chang replaces Mr. Nick Yang, who resigned from the Board on July 6, 2010 for personal reasons. Mr. Chang will serve the remainder of Mr. Yang's term, which ends in 2011.
Mr. Chang is the Chief Financial Officer of the Company and has been with the Company since February 2009.
Commenting on Mr. Chang's appointment, the Company's Chairman and Chief Executive Officer, Mr. Leilei Wang, said, "I'm pleased to welcome Jay to our Board of Directors. Jay is a strong addition to our Board and his significant senior level financial experience is a valuable asset as we continue to develop KongZhong's strategic initiatives in the mainland Chinese mobile Internet and online game markets."
Mr. Nick Yang, one of the co-founders of the Company, has informed the Board of his decision to resign from the Board as Director and Vice Chairman, effective July 6, 2010. Mr. Yang will focus on his own personal entrepreneurial endeavors in the future.
Regarding Mr. Yang's resignation, Mr. Leilei Wang, said, "The board and I wish to acknowledge all the key contributions Nick has brought to KongZhong since he co-founded the Company in 2002. We wish Nick the best in all his future endeavors."
About KongZhong
We are one of the leading providers of digital entertainment services for consumers in the PRC. We operate four main business units, namely WVAS, WIS, mobile games and online games. We are one of the leading providers of WVAS to mobile phone users. We began providing WVAS on the networks of China Mobile in 2002. Since 2004, we have provided WVAS on the networks of China Unicom, China Telecom, China Netcom and the other major telecommunications operators in the PRC. Since 2004, we have been offering news, entertainment, community and mobile advertising services through our wireless Internet sites, including Kong.net, ko.cn and ct.cn. In 2008, we began reporting our mobile games business as a stand-alone operating segment, while it was previously reported as part of our WVAS business. We began our online games business in 2010, through our acquisition of Dacheng Networks, a developer and operator of online games.
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I suspect KONG cofounder Nick Yang threw in the towel because a takeover's just around the corner... The buyer's offer must be approved by the board --preferably a unanimous board. Wait and see!
Regards from Brussels... |
