From the Wires
Sohu.com Announces Management Changes at Changyou.com to Support Strategic Initiatives
By: PR Newswire
Jan. 11, 2013 02:00 AM
BEIJING, Jan. 11, 2013 /PRNewswire/ -- Sohu.com Inc. (NASDAQ: SOHU), China's leading online media, search, gaming, community and mobile service group, today announces changes in the duties of some members of management and the creation of the new position of chief information officer at its online game subsidiary, Changyou.com Limited ("Changyou") (NASDAQ: CYOU) to support Changyou's strategic initiatives.
Mr. Xiaojian Hong, the former chief technology officer of Changyou, has assumed the position of chief operating officer of Changyou from Mr. Dewen Chen, and will lead the game development and game operations functions.
Mr. Dewen Chen continues his position as president of Changyou, and will focus full time on corporate strategic planning and lead the organizational management function.
In addition, Changyou has created the new position of chief information officer to lead Changyou's strategy implementation efforts and development of overall project management systems. Changyou has appointed Ms. Wendy Pan to this new position effective January 7, 2013. Ms. Pan, who has extensive experience in both areas, will report directly to Mr. Dewen Chen. From 1997 to 2012, Ms. Pan worked as a senior executive at Huawei Technology Co., Ltd., where she was mainly responsible for managing the execution of Huawei's strategies and project management, as well as leading teams on transformational projects that include the implementation of IPD (integrated product development) and IFS (integrated financial services).
Regarding the new appointments and management changes, Mr. Tao Wang, Changyou's chief executive officer, commented, "These management changes come at a time when Changyou's business is expanding and Changyou is pushing forward the development of strategic initiatives in new game markets. Successfully carrying out these initiatives will require effective and efficient strategy implementation and business management systems. The expanded management structure enables Changyou to better capitalize on the many opportunities in front of us. The executive team looks forward to Ms. Pan's contributions in her role as Changyou moves forward."
Changyou.com Limited (NASDAQ: CYOU) is a leading developer and operator of online games in China with a diverse portfolio of online games that includes Tian Long Ba Bu, one of the most popular massively multi-player online ("MMO") games in China, and DDTank and Wartune (also known as Shen Qu), which are two popular web games in China. Changyou also owns and operates the 17173.com website, a leading game information portal in China. Changyou began operations as a business unit within Sohu.com Inc. (NASDAQ: SOHU) in 2003, and was carved out as a separate, stand-alone company in December 2007. It completed an initial public offering on April 7, 2009. Changyou has an advanced technology platform that includes advanced 2.5D and 3D graphics engines, a uniform game development platform, effective anti-cheating and anti-hacking technologies, proprietary cross-networking technology and advanced data protection technology. For more information, please visit http://ir.changyou.com/.
Sohu.com Inc. (NASDAQ: SOHU) is China's premier online brand and indispensable to the daily life of millions of Chinese, providing a network of web properties and community based/web 2.0 products which offer the vast Sohu user community a broad array of choices regarding information, entertainment and communication. Sohu has built one of the most comprehensive matrices of Chinese language web properties and proprietary search engines, consisting of the mass portal and leading online media destination www.sohu.com ; interactive search engine www.sogou.com; #1 games information portal www.17173.com; the top real estate website www.focus.cn; #1 online alumni club www.chinaren.com; wireless value-added services provider www.goodfeel.com.cn; leading online mapping service provider www.go2map.com; and developer and operator of online games www.changyou.com/en/.
Sohu corporate services consist of online brand advertising on its matrix of websites as well as bid listing and home page on its in-house developed search directory and engine. Sohu also offers wireless value-added services such as news, information, music, ringtone and picture content sent over mobile phones. Sohu's online game subsidiary, Changyou.com (NASDAQ: CYOU) has a diverse portfolio of online games that includes Tian Long Ba Bu, one of the most popular massively multi-player online ("MMO") games in China, and DDTank and Wartune (also known as Shen Qu), which are two popular web games in China. Sohu.com, established by Dr. Charles Zhang, one of China's internet pioneers, is in its seventeen year of operation.
Safe Harbor Statement
This announcement contains forward-looking statements. Statements that are not historical facts, including statements about Sohu's beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the current global financial and credit markets crisis and its potential impact on the Chinese economy, the uncertain regulatory landscape in the People's Republic of China, fluctuations in Sohu's quarterly operating results, and Sohu's reliance on online advertising sales, online games and wireless services (most wireless revenues are collected from a few mobile network operators) for its revenues. Further information regarding these and other risks is included in Sohu's annual report on Form 10-K for the year ended December 31, 2011, and other filings with the Securities and Exchange Commission.
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