BEIJING, Dec. 28, 2017 /PRNewswire/ -- Cheetah Mobile Inc.
(NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile
Internet company with strong global vision, today announced that
its Board of Directors (the "Board") 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.
About Cheetah Mobile Inc.
Cheetah Mobile is a leading mobile Internet company with strong
global vision. It has attracted hundreds of millions of monthly
actively users through its mobile utilities products such as Clean
Master and Cheetah Keyboard, casual games such as Piano Tiles 2,
and its live streaming product Live.me. The Company provides its
advertising customers, which include direct advertisers and mobile
advertising networks through which advertisers place their
advertisements, with direct access to highly targeted mobile users
and global promotional channels. Cheetah Mobile is committed to
leveraging its cutting-edge artificial intelligence technologies to
power its products and make the world smarter. It has been listed
on the New York Stock Exchange since May
2014.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements, including management quotes and business outlook,
constitute forward-looking statements under the U.S. Private
Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Such statements
involve inherent risks and uncertainties. A number of factors could
cause actual results to differ materially from those contained in
the forward-looking statements, including but are not limited to
the following: Cheetah Mobile's growth strategies; Cheetah Mobile's
ability to retain and increase its user base and expand its product
and service offerings; Cheetah Mobile's ability to monetize its
platform; Cheetah Mobile's future business development, financial
condition and results of operations; competition with companies in
a number of industries including Internet companies that provide
online marketing services and Internet value-added services;
expected changes in Cheetah Mobile's revenues and certain cost or
expense items; and general economic and business condition globally
and in China. Further information
regarding these and other risks is included in Cheetah Mobile's
filings with the U.S. Securities and Exchange Commission. Cheetah
Mobile does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
Investor Relations Contact
Cheetah Mobile Inc.
Helen Jing Zhu
Tel: +86 10 6292 7779 ext. 1600
Email: helenjingzhu@cmcm.com
ICR, Inc.
Xueli Song
Tel: +1 (646) 417-5395
Email: IR@cmcm.com
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SOURCE Cheetah Mobile