Shanda Announces Appointment of Tuoc Luong as Co-Chief Executive Officer of Shanda Online and Head of Shanda Innovation Institute America
Shanghai, China –April 7, 2011 / -- Shanda Interactive Entertainment Limited (Nasdaq: SNDA) ("Shanda" or the "Company"), a leading interactive entertainment company, today announced the appointment of Mr. Tuoc Luong as Co-Chief Executive Officer of Shanda Online Holdings Limited ("Shanda Online"), a wholly-owned subsidiary of Shanda, and the Head of Shanda Innovation Institute America. Mr. Luong has more than two decades of software engineering and product development management experience.
Prior to joining Shanda, Mr. Luong served as the Global Senior Vice President of Yahoo from 2007 to end of 2010, where he was responsible for Yahoo! Search worldwide. Mr. Luong led Yahoo’s Search Division with over 1,000 scientists, engineers and product staff around the world and innovated many leading technology capabilities in the search industry.
Before joining Yahoo!, Mr. Luong held various management positions at Microsoft, Oracle, Ask Jeeves and several other multinational hi-tech companies. While serving as CTO at Ask Jeeves, he led the development of its Q&A-style, result-oriented natural language search engines. Prior to this, Mr. Luong served as Vice President of Research and Development at Borland International where he led the development of its important Rapid Application Development (“RAD”) product, Delphi.
In addition, Mr. Luong was an entrepreneur having built engineering teams at multiple successful startup companies in Silicon Valley. Mr. Luong also founded the internet company Lookspark, a social networking community which was acquired by Yahoo in 2007.
Mr. Luong holds a master’s degree in engineering from Santa Clara University and a bachelor’s degree in computer science from University of California at Berkeley. In 1995, he published the book “Internationalization: Developing Software For Global Markets”, one of the pioneering works on technology globalization.
"We are very pleased to have a world-class talent like Mr. Tuoc Luong join Shanda Online," commented Tianqiao Chen, Chairman, Chief Executive Officer and President of Shanda. "Tuoc’s rich experience in technology, management, and deep understanding of the needs of internet users will make him a very valuable addition to Shanda Online’s management team and will contribute towards Shanda’s transition into a global leading interactive entertainment and media group."
About Shanda Interactive Entertainment Limited
Shanda Interactive Entertainment Limited (Nasdaq: SNDA) ("Shanda") is a leading interactive entertainment media company in China, offering a broad array of online entertainment content on an integrated service platform to a large and diverse user base. Shanda offers its high quality entertainment content through its subsidiaries and affiliates, including Shanda Games, Cloudary, Ku6 Media, and various other online community and business units. The broad variety of content ranges from massively multi-player online role-playing games (MMORPGs) and advanced casual games, to chess and board games, e-sports, literature, film, television, music, and video etc. By providing a centralized platform through which Shanda can deliver its own content as well as third-party content, Shanda allows its users to interact with thousands of other users while enjoying some of the best entertainment content available in China today. Shanda: "Interaction enriches your life". For more information about Shanda, please visit http://www.snda.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts but instead represent only the Company’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that the Company’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Statements in this announcement that are not historical facts, including but not limited to statements regarding the continuous growth of the Company, the success of any acquisitions or investments by the Company or any subsidiaries, the introduction of expansion packs to existing titles, the introduction and timing of new MMORPG game titles and the introduction of new casual game titles, the success of our online literature platform, the success of our online video operations, the signing and development of successful artist for our music business, and the success of our wireless value added business, represent only the Company's current expectations, assumptions, estimates and projections and are forward-looking statements. Important risks and uncertainties that could cause the Company's actual results to be materially different from expectations include but are not limited to the risk that there are delays in the localization and/or development of the MMORPGs and casual games to be released in 2011, the risk that such MMORPGs and casual games are not well received by users in China, the risk that the games fail to be commercialized or the commercialized results fail to meet the expectations of end users, the risk that our contract writers do not deliver appealing literature products, the risk that our online video website fails to attract advertisers or content providers, the risk that we fail to sign popular music artists or fail to continue to successfully promote our existing artists, the risk that the laws and regulations in the PRC continue to prohibit or restrict offering of wireless valued added products, the risk that the Company fails to deliver continuous growth in 2011, and the risks set forth in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 20-F. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update publicly any of them in light of new information or future events, except as required under applicable laws.
Shanda Interactive Entertainment Limited
Dahlia Wei, IR Associate Director
Elyse Liao, IR Senior Manager
Tel: +86-21-6058-8688 (Shanghai)
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