Rumor: Ku6 Execs to Resign Under Shanda Pressure

Shanghai Morning Post, 4/07/10

Industry rumors are circulating that Kevin Li (Li Shanyou), founder of Chinese online video site Ku6, will resign his position as Ku6's CEO, and that Chen Tianqiao, CEO of Ku6 parent company Shanda Interactive (Nasdaq: SNDA), has already chosen another Shanda executive to fill Li's spot. The rumors state that this executive may come from Shanda's online game payment subsidiary Shanda Online. Some reports have directly named Shanda Online CEO Wang Jingying as Li's successor.

Both Wang and Ku6 vice president Yao Jianjiang have denied the rumors. Shanda Online officials would not comment on the matter.

Previously, rumors had stated that Kevin Li had agreed to a valuation adjustment mechanism (VAM) with Shanda that put pressure on Li to mount an active attack on Ku6's competitors in order to increase revenue. Rumors also stated that this performance-based pressure will lead to Yao Jianjiang's upcoming resignation.

Keywords: HR Shanda Chen Tianqiao Kevin Li Yao Jianjiang Internet online video Ku6 SNDA

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