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Internet Portal Sino.com Dispute Continues
The dispute between the board of directors and chief executive of Sina.com, a Chinese Internet portal, saw a new development Wednesday.
Jiang Fengnian, board chairman of Sina.com, said Wednesday that the dismissal of Wang Zhidong, the company's CEO, is in accordance with legal process and the disputes should be resolved by the lawyers of both sides.
Jiang made the remarks via telephone at his office in Taipei.
A statement released early this month by Sina.com said Wang, considered the founder and spiritual leader of Sina.com, had resigned from his post as CEO, president, and director of the board out of concern "for his personal interest outside of Sina."
However, Wang told a press conference Sunday that he had never planned to resign or signed any document stating that he had resigned, and the board made no explanation about that statement.
Wang even returned to his office after the statement.
Jiang explained that reason for Wang's dismissal lies between a split between the board and him on ideas concerning the administration and operation of the company.
The board had contacted Wang and asked for his resignation, and he did not oppose this idea then, said Jiang.
Jiang believes Wang is unlikely to do something harmful to the Sina.com but hopes the dispute will be settled soon through negotiation of lawyers.
Sources said they thought Wang's resignation could be related to major changes taking place with Sina.com.
According to an unidentified Sina executive, the company has been in talks with Chinadotcom, a Hong Kong-based Internet portal which was listed on the NASDAQ together with Sina, about a possible merger.
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