E-House (China) Holdings (EJ) Closes Deal with CRIC; Announces Management Changes


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April 23, 2012 9:11 AM EDT Send to a Friend
E-House (China) Holdings Limited (NYSE: EJ), a leading real estate services company in China, today announced the completion of the merger with China Real Estate Information Corporation (NASDAQ: CRIC). As a result of the merger, CRIC has become a wholly owned subsidiary of E-House.

E-House also announced the following board and management changes, all of which became effective upon completion of the merger:
  • Mr. Xin Zhou has been named the Company's co-chairman of the board of directors and chief executive officer. Mr. Zhou has served as chairman of the board of directors from 2003 to 2009, executive chairman since 2009, chief executive officer from 2003 to 2009, and as CRIC's chief executive officer and co-chairman of the board of directors since 2009.
  • Mr. Charles Chao has been appointed co-chairman of the Company's board of directors. Mr. Chao served as co-chairman of the board of directors of CRIC prior to the completion of the merger.
  • Mr. Li-Lan Cheng has been appointed chief operating officer. Mr. Cheng was the Company's chief financial officer from 2006 until the completion of the merger.
  • Ms. Bin Laurence has been appointed chief financial officer. Ms. Laurence served as the chief financial officer of CRIC from 2009 until the completion of the merger.
  • Mr. Jianjun Zang has been appointed co-president and has resigned from the positions of director and acting chief executive officer of the Company.
  • Mr. Zuyu Ding has been appointed co-president. Mr. Ding was a director and president of CRIC prior to the completion of the merger.
  • Mr. Fan Bao has been appointed independent director of the Company and chairperson of the board's audit committee. Mr. Bao was an independent director of CRIC and chairperson of CRIC's audit committee prior to the completion of the merger.
  • Ms. May Wu has resigned from the Company's board of directors for personal reasons and will no longer serve as an independent director of the Company or as a member of the audit committee.


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