Four Months After IPO, Shanda Games CEO Li Leaves

Shanda Games

Shanda (NSDQ: SNDA) Games CEO Diana Li is leaving the online game company only four months after overseeing its IPO. Shanda Games says Li is resigning to “pursue other interests.” As CEO of a publicly-traded Shanda Games, Li had been aggressive in expanding the company via acquisitions. This month alone, Shanda Games purchased online game developer Goldcool Games, as well as Mochi Media in a high-profile $80 million deal. The company’s stock price, however, is down nearly 30 percent since it was spun off from Shanda Interactive Entertainment in late September.

Li is being replaced by Shanda Games chairman Qunzhao Tan, who has also been serving as president of Shanda Interactive. Tan will give up his executive post at Shanda Interactive in order to dedicate more time to Shanda Games, although he will remain a member of Shanda Interactive’s board.

No details on what exactly is driving Li’s departure, although SeekingAlpha says she is starting a new company, which has apparently already raised a first round of funding. Here’s the release.

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