On the heels of a resignation, Shanda Games (NASDAQ:GAME) has appointed a new member to its board of directors.
The company announced Wednesday that due to personal reasons, Guoxing Jiang had resigned from his spot on the board and also the Audit Committee. Replacing him will be Yong Gui. In the company's press release, Chairman Tianqiao Chen said of the new choice:
I believe Mr. Gui's insightful understanding of Chinese society and population will be of great value to the Company, especially in the area of designing and managing our in-game virtual worlds.
Looking at Gui's resume, he does seem to have a grasp of China's changing society and economy. He holds a bachelor's and a master's degree in sociology and a doctoral degree in economics from Fudan University. He is also a council member of China Sociology Association (CSA), deputy director of CSA's Economic Sociology Special Committee, and council member of CSA's Social Network and Social Capital Special Committee. Gui serves as a deputy dean, professor and Ph.D. supervisor at Fudan University's School of Sociology in Shanghai.
The company's stock fell about 1.23% after announcing this news. Last month, the company's stock jumped 15% after announcing first-quarter earnings. While revenue dropped 22%, net income improved by 10%.
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