The board of directors of Leyou Technologies Holdings Limited announces that with effect from 30 June 2017:
1. Mr. Law Kin Fat (“Mr. Law”) resigned as an executive Director and Vice Chairman of
the Company for pursuing his own career development; and
2. Mr. Wang Haitong (“Mr. Wang”) resigned as Chief Executive Officer of the Company.
Each of Mr. Law and Mr. Wang has confirmed that he has no disagreement with the Board and is not aware of any matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company.
The Board also announces that Mr. Xu Yiran (“Mr. Xu”) has been appointed as an executive Director and Chief Executive Officer of the Company with effect from 30 June 2017.
The biographical details of Mr. Xu are set out below:
Mr. Xu, aged 46, graduated from Tsinghua University in the People’s Republic of China with a bachelor’s degree in automation in 1996. He holds a Master’s degree in Precision Instruments and Mechanology from Tsinghua University and a Master of Business Administration in Finance from the Chinese University of Hong Kong in 1999 and 2007 respectively. Mr. Xu has over 20 years of experience in the gaming industry. Mr. Xu served as Game Director at Sohu Inc (NASDAQ: SOHU) from 2003 to 2005, Investment Director at Giant from 2008 to 2010. Mr. Xu served as Senior Vice President and Chief Business Officer at Perfect World Co., Ltd. (NASDAQ: PWRD) from 2010 to 2015 and president of game business at Qihoo 360 Technology Co., Ltd. from 2015 to 2017 respectively. He is currently an independent non-executive director of SNK Corporation. Mr. Xu did not hold any directorship in other public listed company in the past three years.
Details of announcement can be found here: