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Former CEO of SINA: It's not My Decision to Leave SINA
Wang Zhidong, the founder of the world largest Chinese website SINA, called on June 25 a news conference in Beijing to denounce the rumor of his resignation, insinuating that he had become a scapegoat of power strife.
Wang had kept his mouth shut since SINA announced his resignation on June 3 of the CEO, president and director of the board for SINA. However, this counterattack, as insiders analyzed, will prove undoubtedly a great challenge to the new leaders of SINA.
SINA (www.sina.com) is not only the largest Chinese website, but also one of a few listed companies in Nasdaq of the US. Currently its stock price is about US$2.1 and the total market value is US$83 million.
Wang pointed out that he had never resigned as CEO, president or director of SINA, nor submitted any such papers related to the matter. The fact is that other directors informed him their decision of changing CEO without any written or verbal explanation, and leaving him no chance to discuss and explain on this decision.
He stressed that he hadn't received any explanation of any form up to June 25.
He expressed at the conference that he was quite shocked and confused by the decision of directors of SINA as well as various actions thereafter.
It's illegal to dismiss him, but detailed information would be available only after the investigation of lawyer, Wang said.
Wang reiterated that he had never quit the Internet industry, nor would he in future. China's Internet industry may one day see a larger aircraft carrier than SINA, he said. This might be the SINA or some other website.
Wang Zhidong also denied that his dismissal was related to the stock structure of China's ICP (Internet content provider). He noted that he had always been acting in accordance with the regulations of the Ministry of Information Industry and Chinese laws, and domestic stock structure and personnel of ICP wouldn't have any change within a short time.
At the end of the conference, He made himself clear affirmatively that he wouldn't leave SINA on a selfish purpose.
On the same day when SINA announced the decision of the board of directors to terminate Wang's posts as CEO, president and director, Mao Daolin was appointed CEO and director and Wang Yan president of the company as news released before.
By PD Online Staff Deng Gang
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