Rumor: President of Shanda Subsidiary Resigns

Sohu IT, 2/15/11

According to a source within Shanda Interactive (Nasdaq: SNDA), Xu Chaojun, president and chairman of Hangzhou Bianfeng, Shanda's chess and board game developer subsidiary, has turned in his letter of resignation and will soon leave his post. Xu is expected to found his own start-up in the mobile internet sector.

Currently, Shanda has issued no official announcements concerning the matter, nor has Xu confirmed news of his departure.

Xu formerly served as vice president of Oak Pacific Interactive in Beijing, where he was responsible for the company's leading SNS Renren. In January 2010, Xu became COO at Shanda Interactive, and was later made Bianfeng's chairman and president as part of internal restructuring.

Editor's Note: For more background on this topic, please see "Shanda Reorganizes Chess Game Subsidiary" MD 9/01/10 issue.

Keywords: HR online gaming Shanda Xu Chaojun Mobile internet SNDA Bianfeng Software

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