Yahoo China President Stepping Down


Yahoo China’s president Zhou Hongyi is resigning, putting the US Internet giant’s development in China at a crossroads, according to observers. Hongyi, the founder of the Chinese search firm 3721, which was acquired by Yahoo in 2003 for $120 million, signed an agreement to lead Yahoo China until August 31, and decided not to contiue after the period.

The management of Yahoo China, mainly brought to Yahoo! from 3721, will remain unchanged and report to Allan Kwan, managing director of Yahoo North Asia.

Some industry observers point out that Zhou’s departure will again leave Yahoo! China at a crossroads in terms of localization.

MarketWatch: Zhou retires with a healthy chunk of the $120 million that Yahoo paid for 3721. Victor Koo, former COO of Sohu, was mentioned as a candidate for Google China’s top job; he’d be one of few candidates able to claim they had run a leading portal in China.

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