Tudou COO Resigns
Donews, 7/10/12
Chinese online video site operator Tudou (Nasdaq: TUDO) has announced that Evelyn Wang has resigned as COO and that the merger and integration of Youku (NYSE: YOKU) and Tudou personnel is progressing smoothly.
Wang joined Tudou in 2007 as VP of sales and marketing, and oversaw Tudou's national planning center. In March 2010 Wang was promoted to Chief Marketing Officer, reporting directly to CEO Gary Wang.
Youku and Tudou plan to complete their merger by Q3 2012, after which the company is expected to save USD 50 mln in costs over the following 12-18 months.
An industry insider commented that Evelyn Wang's departure is likely to precipitate a wave of resignations by senior management at Tudou.
Editor's Note: Wang's resignation comes the same day that China's video content regulator, the State Administration of Radio, Film and Television, has announced plans to more heavily regulate the content shown by China's online video sites. For more background on this topic, please see "SARFT Regulates Online Short Videos," MD 7/10/12 issue.
Keywords: HR Gary Wang Internet online video Tudou Youku Evelyn Wang TUDO M&A
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