Sohu Changyou CEO Wang Yu resigned

Phoenix technology news November 3 News, Sohu announced that Sohu Changyou CEO resigned, the announcement said Wang Yu for personal reasons to resign from Changyou CEO, will continue to serve as Changyou company director and chief product officer.

According to Sohu, the board of directors appointed Xu chuyuan, president of Sohu, and Changyou, President Chen Devin, as co-CEO of Changyou. Zhang Chaoyang said: "Out of respect for Mr. Wang's personal wishes, the board of directors accepts his resignation request ."

It is understood that Wang Yu said in the company group last night that he has left the company and said, "I wish you all a good job and I will continue to use your products." Wang Yu will choose to start a business in the future.

In 2004, Wang joined Sohu and served as the general manager of Beijing Firefox Digital Technology Co., Ltd.. He also served as the game director of Sohu, responsible for the R & D and operation of Sohu's games. Later, with Shang Jin, Liu tie, and other online game R & D online games "tianlong Babu", the test started in June, and then started Public Beta in May. Due to the outstanding performance of the game, Firefox studio changed its name to Sohu Changyou, listed in 2009.

According to Changyou's second-quarter earnings report, Changyou's general and administrative expenditures in the second quarter increased by 7% compared with the previous quarter, an increase of 72% over the same period of the previous year, and significant expenditure growth. In addition to the decline in performance, Chen Devin, president of Sohu Changyou in the second quarter of this year, and Wang Yu's internal management conflicts have been made public within the company.

The full text of the announcement is as follows:

On June 23, November 3, Sohu and Changyou (NASDAQ: cyou) announced that Mr. Wang resigned as Changyou's chief executive officer for personal reasons. At the same time, the board of directors appointed Ms. Yu chuyuan, president of Sohu, and Mr. Chen Devin, president of Changyou, as co-CEO of Changyou.

After Mr. Wang resigned as CEO, he will continue to serve as the director and chief product officer of Changyou and continue to support Changyou's development. Mr. Wang joined Sohu in 2004 and served as the operation director of Sohu games. After the Sohu Game Division was split into Changyou, he served as CEO of Changyou.

Mr. Zhang Chaoyang, Chairman and Chief Executive Officer of Sohu, and Chairman of Changyou, said: "Out of respect for Mr. Wang's personal wishes, the Board accepts his resignation request. We sincerely thank Mr. Wang for leading Changyou's staff in R & D of many well-known games such as tianlong Babu over the past decade, and continuously led Changyou to achieve remarkable results in the gaming industry. I would like to thank Mr. Wang for his great contributions to Sohu and Changyou and wish Mr. Wang a new achievement in his new journey ."

Changyou will announce its three-quarter earnings report at two o'clock P.M. Beijing time, or officially announced it at the Financial Report and subsequent teleconference. Changyou has not commented on the news so far.

Prior to this, Changyou had four senior executives leaving:

Changyou CFO He Jie submitted his resignation on June 23, February 10 and will resign on June 23, March 4, 2014. The Chief Financial Officer Sheng Wen is currently in the position of chief financial officer;

On April 9, February 11, Chen Guojun, general manager of Changyou Mobile Operations Department, confirmed his resignation;

In February 19, Hu min, CoO (Chief Operating Officer) of 7th Avenue, Meng zhiyun (chief product officer), CPO (chief product officer), and shenzhenqu studio, left.

"Complicated" Wang Yu

Freezing is not a cold day.

Wang Yu is a game player that understands both development, planning, and marketing and operation. At that time, Wang Yu not only had outstanding personal abilities, but also had a strong affinity in the team. At that time, the well-known game players like Shang Jin, Liu tie, and Wei Qing all joined Wang Yu, and worked together to realize the success of tianlong Babu.

Subsequently, due to the impressive achievements of tianlong Babu, Firefox studio became a separate subsidiary of Sohu and renamed Sohu Changyou. Wang Yu became CEO. Changyou was also listed independently in 2009, and Wang Yu reached the peak of his career.

Jing is not long. As the main hero of tianlong Babu, Shang jin left Sohu Changyou to create a Qilin game. The latter's "Genghis Khan" has been regarded as a plagiarism. The success of Shang Jin and Cheng jizhan also led to a change in Wang's management philosophy.

Wei (not his real name), an employee who has resigned from Sohu Changyou and is close to Wang Wei, told Sina technology that Wang started to manage Changyou's internal permissions on the Internet, limits on output interfaces such as USB to the computer. Since then, Wang started to think that a company needs a common spiritual belief to make a better move forward.

When Wang became increasingly distrustful to his employees, his achievements in "Lu Ding Kee ol" strengthened his mind and changed his company's ideas from his spiritual beliefs.

However, some column-based management changes have led Changyou to suffer poor financial performance in the first two quarters after entering 2014, with a net loss of $19.5 million in the first quarter, in the second quarter, the net profit fell by 97% year on year, which also directly caused Sohu's poor performance for two consecutive quarters. So far, Sohu and Changyou are no longer in peace.

Superior Operating System

When Wang entered his vision, Pan wenjuan, who was working for Huawei, entered Wendy mentioned in the "my battle Declaration" in the second quarter of this year. Pan wenjuan has been working for Huawei for 15 years and is mainly responsible for Huawei's strategic implementation and project management. He also led the team to integrate product development (IPD) and financial services (IFS) system deployment.

Wang valued Pan wenjuan's management experience at Huawei and hoped that she could establish standardized process management at Changyou. To this end, Changyou added the Chief Information Officer (CIO) for Pan wenjuan in September. Pan wenjuan also officially started to promote the "Excellent Operating System" in Changyou ".

The main responsibility of the superior operating system is to help the business department standardize the process, including organizing the business process, establishing department documents, picking out business problems, and finally forming a department dismantling, turning all businesses into a streamlined system makes the work of all businesses modular, refined, and normalized ". According to this model, all businesses of the company should be applied and executed.

Changyou has also created a department business line named "excellent operation system" to sort out and plan the business processes of each department and branch of Changyou, at the same time, they are also responsible for the "region & Service System" business line and "aishouxin Business Management Department ". As the employees of the business line of the operating excellence system generally do not have business experience, the final establishment of the Process has aroused deep rejection and conflict among most employees, including Chen Devin.

According to Chen Devin, the department of excellence is still expanding. This year, it will increase from 442 to 770 people, however, these employees are generally unfamiliar with the business, but they have to take responsibility for helping the business department develop processes. This management method directly affects Changyou's current business.

It is reported that the fuse prompted Wang Yu to be resigned was that the Sohu group's management asked him to cut more than 1000 people, including the entire superior operating system and some non-business personnel, in Changyou, however, Wang refused to comply with Sohu's requirements, which made the conflict between Sohu and the Sohu group's management irreconcilable, and finally used the board of directors to exempt him from his position.

Sohu Changyou CEO Wang Yu resigned