Mogu announced the resignation of Qi Chen as the CEO of the company due to personal reasons, effective March 17. Chen will retain his position as the chairman of the board of the directors. Chen has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation as the CEO that needs to be brought to the attention of holders of securities of the company or The New York Stock Exchange. The Board is pleased to announce the appointment of Yiming Fan as the new CEO of the company, effective March 17. Fan has been serving at the company since 2014, and served as a brand director, a vice president of marketing and a general manager of business of Mogujie prior to his appointment as the CEO.
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