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Screenshot of a breaking news alert e-mail from Q2 2017
Cheetah Mobile Inc. (NYSE: CMCM), a mobile Internet company, today announced that its Board of Directors has appointed each of Mr. Michael Jinbo Yao and Mr. Michael Lingye Zuo as an independent director, effective December 28, 2017. Mr. Michael Jinbo Yao will also join the corporate governance and nominating committee of the Board, effective the same date. Mr. Michael Lingye Zuo will also join the audit committee, the compensation committee, and the corporate governance and nominating committee of the Board, effective the same date. In addition, Mr. David Ying Zhang has resigned as an independent director of the Company.
Mr. Sheng Fu, Cheetah Mobile’s Chief Executive Officer, stated:
We are honored and excited that both Mr. Michael Jinbo Yao and Mr. Michael Lingye Zuo will join our Board. Their extensive leadership experience, industry and investment expertise, and connections in China’s Internet space will bring significant value to Cheetah Mobile as the Company builds its next stage of growth. On behalf of Cheetah Mobile’s Board of Directors, I would also like to express my gratitude to Mr. David Ying Zhang for his time, dedication and valuable contribution to Cheetah Mobile.
Mr. Michael Jinbo Yao is the Chairman and Chief Executive Officer of 58.com. Mr. Yao founded 58.com, and has served as the Chairman of the Board of Directors and Chief Executive Officer of 58.com since its inception. Mr. Yao is a pioneer in China’s Internet industry. Prior to founding 58.com, Mr. Yao founded in 2000 domain.cn, a domain name transaction and value-added service website in China. After domain.cn was acquired by net.cn in the same year, Mr. Yao served in various managerial roles at net.cn, including Vice President of Sales, until 2005. Mr. Yao currently serves on the Board of Directors of Xueda Education Group, a NYSE-listed company he co-founded. Mr. Yao received his bachelor’s degrees in computer science and chemistry from Ocean University of China (formerly known as Ocean University of Qingdao) in 1999.
Mr. Michael Lingye Zuo is one of the founding members of Matrix Partners (China) and has strong investment expertise. Mr. Zuo joined WI Harper after graduating from Tsinghua University School of Economics and Management in 2002, and played an instrumental role in WI Harper’s investment in Focus Media in 2004. At Matrix Partners (China), Mr. Zuo focuses on the marketplace and enterprise services sectors and is actively involved in making investment decisions. He has led investments in Cheetah Mobile, Baofeng, Liepin, Yuantiku, To8to, Anjuke, Babytree, 36Kr, Beisen, Xiaoshouyi. Mr. Zuo was ranked by Zero2IPO as one of the top 10 rising stars in China’s Venture Capital Industry in 2006.