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Zhidong Wang Resigns, SINA Appoints New CEO
June 3 saw Sina announce that Zhidong Wang has resigned as the company's president, chief executive officer (CEO) due to personal interests, and the board director has appointed Chief Operating Officer (COO) Daniel Mao as the new CEO, and Wang will serve as the chief advisor to the company.
Daniel Mao has been appointed as chief executive officer and a director on SINA's Board of Directors. Mr. Mao has been with the company as chief operating officer since March 1999
Before joining SINA, Daniel Mao served as vice president of Walden International Investment Group. He holds a master's degree in Engineering Economic Systems from Stanford University and a bachelor's degree in Computer Science from Shanghai Jiaotong University.
In the meanwhile, Yan Wang, general manager for China operation since September 1999, has been promoted to be the President of the company. Mr. Wang joined the company in 1996 as the founder of the company's Internet Operation in China.
"Zhidong has contributed a great deal for the success of SINA. It is a regret that he should have decided to resign in pursuit of his personal interests outside the SINA. We thank him for his outstanding service and wish him a plain sailing in his future career," said Daniel Chiang, chairman of SINA's Board of Directors. "Daniel Mao has been a key contributor to the success of the company in the past several years. With him as a leader of the new management team, we are full of confidence that SINA will be able to capitalize on its leadership and carry the company's business onto the next stage for growth and excellence."
However, as part of the efforts for the realignment of the company in order to ensure that it has the flexibility in organization and finance in pursuance of a long-term value, it has decided to lay off approximately 15% of its workforce worldwide by the end of June.
By PD Online staff member Li Yan
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