Grand low-key appoints investment bank background CEO prepares next capital operation

Tencent Science and technology news November 7, yesterday evening, the Royal group in the internal Mail appointed with investment banking background Chu Wenyu as president and chairman of the Grand Literature, the appointment of the Grand Group in the previous High-profile style, only in an extremely low-key way in the internal mail to inform staff.

In its internal mail, Shanda said to employees, Chu Wenyu to the group chairman and CEO Chen report, the main responsibilities are: 1, in charge of literature, cool six, Sheng, advertising, cloud computing companies related to capital markets and investment and financing work; 2, as Chairman of Shanda Literature Company, responsible for the distribution and management of the literature publishing industry chain at home and abroad 3, responsible for the group's overseas strategy and other group board of Directors authorized work.

Chu Wenyu has previously served as managing director of BofA Merrill Lynch and director of the Asia-Pacific Technology, media and Telecommunications investment banking Department, and has participated in major events such as Asiainfo, Sina, giant networks, Shanda Interactive Entertainment, Shanda Games, IPOs and the privatization of Grand Interactive entertainment.

With the grand low-key formation echoes, the personnel adjustment did not cause widespread concern in the industry. A number of capital sector analysts told Tencent technology, since the Grand Network in February this year, cool 6 and Shanda games in the capital market has no imagination space, the company has been removed from the list of concerns.

One group of figures that could explain Shanda's indifference to the capital markets is that 22 senior executives from 2010 to 2012 were left in the 34 months of October. At present, in addition to Shanda literature, including games, video, including the business has withdrawn from the mainstream camp. Game field, Shanda has been Tencent, NetEase, swim out of the industry's top three position, 酷6网 in the income is the top 10 video site.

For a company that has lost its imagination in the capital market, why is this time appointing a person with a wealth of investment banking experience as president?

Wen Tianli, managing director of future assets, a veteran of the TMT sector, told Tencent technology that the grand move might be to prepare for the privatisation of other lines of business. He revealed that with the stock market in the past two years, a sharp fall in the shell has lost its appeal, the other lines of business after privatization, can be listed in the domestic A shares to continue to circle the money.

Another Wall Street analyst, who declined to be named, pointed out to Tencent that the Chu Wenyu's appointment, in addition to being President of the Grand Group, also served as chairman of Shanda literature. The person speculated that the staffing arrangement would pave the road for a grand literary IPO. In addition, the person also believes that the current Shanda group's 酷6网 and Shanda games are likely to continue privatization, Chu Wenyu has been responsible for the Grand Interactive entertainment privatization, in dealing with such incidents have a very rich experience.

"Shanda Group's chairman, Chief executive officer, President Chen Tianqiao, this Chu Wenyu past, Chen flyover just let the president's position, but the day-to-day management of this family business will certainly not give the investment bank background airborne." Chu Wenyu to join means that Shanda will start a series of capital operations again. The person made the above remarks to Tencent technology.

Chen Tianqiao in the personnel appointment of internal mail, said that Chu Wenyu is a senior investment banker, the media, High-tech and telecommunications in the field of capital operation has a very rich experience in the industry has accumulated rich contacts. These experiences and connections are invaluable for a Shanda network that is actively seeking to transform itself from an Internet entertainment company into an internet-holding group. The day-to-day management and capital operation of the various business companies under group Holding will also be of great help. At the same time, Chu Wenyu will be fully responsible for the group's overseas business Development, and actively implement the group's overseas strategy.