The9 Limited (NCTY) President Not to Renew Contract
The9 Limited (NASDAQ: NCTY) announced today that, for personal development reasons, its President, Ms. Xiaowei Chen, will not renew her employment contract with the Company. Ms. Chen's employment contract expires on May 16, 2010. The Company's Chairman and Chief Executive Officer, Mr. Jun Zhu, will assume Ms. Chen's duties as President of the Company after this date.
Ms. Chen said, "I would like to thank the Board of Directors of The9 for their trust in me and all the employees for their support during my service to the Company. I believe that the Company will continue to enjoy rapid growth and reach new heights under the leadership of Mr. Zhu Jun."
"I would like to thank Xiaowei for her service to The9 during the past two years," said Mr. Zhu, "Xiaowei brought to The9 her deep understanding of international business and laid a good foundation for the Company's international development. We wish her success in all of her future endeavors."
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