Chen Tianqiao free Zhang Grand Games The new CEO is good at Capital operation

Yesterday (October 28), the Grand Board of Directors announced the restructuring of the company, formally removed Zhang Grand game CEO position, lifting its work with the grand Game of relations, dismissed its Grand game director identity.

The announcement pointed out that Zhang as CEO of the former Grand game and board members, its management and development philosophy and the Board of Directors there is a big difference, the administration and implementation strategy can not be recognized by the Board, performance performance can not meet expectations. At the same time, the company board appointed Zhang Yi as the Grand Game acting CEO, supplemented Zhang Yi for Shanda game director.

It is reported that Zhang Yi 2001 joined the grand, early as the legal and intellectual property department in charge of the current Royal Group Vice president. There are insiders said that by the parent company "Airborne" people management Grand game is also difficult to pull performance decline.

However, for Shanda Games, the current focus may not be here. According to Ningxia News Network and a number of media recently reported that the WCA (World Electronic Competition) after the closure of the Yinchuan held a meeting to show that the Grand game plan backdoor in the silver Velvet Industry (000982,SZ) listed, and the company registered to relocate to Yinchuan.

In this regard, Shanda Games related people in the "Daily economic news" reporter interviewed, said the grand game is still listed companies, will be unified in accordance with the relevant norms of listed companies, and the United States issued a foreign announcement.

Chen declared Zhang dismissed.

According to people familiar with the matter, yesterday, Shanda game chairman Chen directly at the meeting announced that Zhang was dismissed, and then the news soon in the former Grand staff turnover spread.

In August 2012, after Tan the CEO of the Grand game, Zhang took over the position and also served as the chief producer of the Grand game. Before this, Zhang successive Grand game chief operating officer, Grand Group senior vice president, director and other positions, and successively led a number of large-scale network game production, operation and success, is "Blood legend" and "legendary World" one of the core managers.

In fact, Zhang is not the only veteran to leave. In the middle of this month, Chen, vice president of the former Shanda Games, also resigned as CEO of the Kunlun gaming company.

In this respect, Analysys International analyst Shillon, in an interview with the Daily Economic news reporter, admits it is not surprising. "Shanda is no longer the original company, and for these core management, it is not much value to stay." Zhang may be in the process of privatization, equity merger and so on, and the management of the parent company has a lot of differences. Therefore, the staff adjustment and management turmoil is also normal, but the Royal Group on the matter is a bit defective. ”

It is reported that Zhang Yi joined the Grand in 2001, the current Royal Group Vice president. He was the head of the Legal and intellectual property department in the early years, and was responsible for the selection, introduction and negotiation of all game items including the "Blood Legend", and was responsible for the authorization, operation and protection of the relevant copyrights.

In 2009 after the break-up of the Grand game, Zhang Yi successive group of Legal Director, group vice president and Grand Capital Partners. He participated in the capital Operation projects including Shanda Group listing, listing of Shanda Games, privatization of Shanda Group and the sale of winger and Hao Fang to a-share listed company.

In the industry, Zhang Yi, who specializes in capital operations, succeeds Zhang as CEO of Shanda Games, possibly for the next series of backdoor and equity changes in the country.

A certain number of landing a shares

The privatisation of Shanda's games is still in progress. Shanda game controlling shareholder signed a consortium agreement on January 27, under which the Takeover Alliance was involved in a proposed "privatisation" deal on Shanda, proposing a "privatisation" deal to buy a grand game at $3.45 per share or $6.90 per share of US depository shares.

This September, Shanda announced a change in the privatization of the Buyer consortium, including the perfect World 4 companies from the privatization transaction, while Oriental securities under the Oriental Financial holding company, Haitong Securities under the Shanghai Acquisition Fund and the Ningxia China Silver Cashmere Industry International Group 3 institutions to join the consortium.

From this, the Shanda game backdoor in the silver velvet industry rumors surfaced, the latter on August 25 suspended from business so far. October 25, the Sino-Silver velvet Industry issued a major issue of suspension of the progress of the notice said, due to the planning of major matters, the company's shares since the opening of August 25, the opening of the suspension, in view of the company and the parties are still discussing the major issues, in order to avoid abnormal fluctuations in the company

At present, the Shanda game and the Sino-Silver velvet industry may be related to the trend of investors are concerned about. Coincidentally, just yesterday, the Sino-Silver Velvet Industry also issued a notice of personnel adjustment, the company chairman and general manager Mr. Ma Seng for work reasons, apply for resignation as general manager of the company, resigned and continue to serve as Chairman of the company and the Board of Directors of the relevant committee; The Board agreed to appoint Mr. Weidong as the "Daily economic news" reporter noted that the Chinese and silver cashmere industry stocks bar, there are investors to this matter and the big game link.

However, Shanda said that the current "privatization" invitations received by the company had not changed and that the Special Committee set up by its board to assess the "privatization" offer would continue to move forward. The company reminded shareholders and other relevant traders that neither the Board nor the Special Committee had made any final decisions on the "privatization" offer.

Shillon said the full sale of Shanda games is unlikely, but landing a shares can be almost certain. "A former industry-leading company gradually lost its original culture, relying entirely on professional managers, it is also an unknown how far to go." He believes that the loss of the core founding team has far-reaching implications for any internet company.

Shanda Game's latest earnings show that its net revenue for the second quarter was 964.4 million yuan (about 156.7 million U.S. dollars), down 2.8% in the chain, down 11.8% per cent year-on-year. Net profit of 325.8 million yuan (about 53 million U.S. dollars), the chain fell 2.5%, down 36.4% year-on-year.