Shanda Games (NASDAQ:GAME) has selected Tunghai Chien as the company's new president. The company has made advancements in mobile games and expansion into overseas markets, and the board of directors chose Chien to build on Shanda's strategy.
Before joining Shanda, Chien served as the head of business development at several South Korean online gaming companies. He joined Shanda in 2009 as the vice president for business development and was promoted to senior VP in 2011.
In addition, Grace Wu has resigned from her role as director for personal reasons. Johnson Yao, who's been Shanda Interactive's VP of finance since May 2011, will replace her on the board of directors. Wu had been a director since 2010, and Yao was an assistant VP of finance, starting in 2007, before taking on his current role.
In the company's press release, Chien said:
I am honored to have been entrusted with this opportunity to aid the Company in further strengthening its franchises and delivering its expanding portfolio to various new platforms and distribution channels. The Company has undertaken numerous initiatives in an effort to adapt to a rapidly changing environment since I first joined. Each of these changes brings along new opportunities and challenges which we intend to take advantage of. I look forward to working closely with the Company's talented employees as we start 2013 on a solid footing.
Fool contributor Kevin Chen and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Read This Before Buying Chinese Tech Stocks
Chinese tech stocks offer lucrative growth, but investors should recognize the risks.
Lennar Missed Earnings in the Fourth Quarter, Should Investors Worry?
Lennar was one of the few homebuilders to post a year over year decline in profitability last quater.
KB Home Gets 1 Step Closer to Management's Goals
The homebuilder's streak of impressive earnings results puts it on the cusp of meeting management's targets for returns.