BEIJING, March 13, 2018 /PRNewswire/ -- Cheetah Mobile
Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading
mobile Internet company with strong global vision, today announced
changes to its Board of Directors (the "Board") effective
immediately.
The Board has appointed Ms. Ning
Zhang, Mr. Tianyang Zhao and
Dr. Yi Ma each as an independent
director. Mr. Tianyang Zhao will
become a member of the audit committee and the compensation
committee of the Board. Ms. Ning
Zhang will become the chairman of the compensation committee
and a member of the nominating and corporate governance committee
of the Board. The Board has also appointed Ms. Jie Xiao and Mr. Pin Zhou, who serve as the
Company's Senior Vice Presidents, and Mr. Rui Hao, who serves as a Tencent Investment's Executive Director, each as
a director of the Board.
Meanwhile, Mr. Jun Lei has
tendered his resignation as the Chairman and a member of the Board.
Mr. Lei will remain as an advisor to Cheetah Mobile going forward.
Mr. Fu Sheng, Cheetah Mobile's Chief Executive Officer, will
succeed Mr. Lei as the Chairman of the Board. In addition, Mr.
Yuk Keung Ng, Mr. Wei Liu, Mr. Ke
Ding, and Mr. Jeffrey Zhaohui
Li have resigned from their directorships of the
Company.
With the aforementioned changes, the Board now consists of
eleven members, six of them are independent. The Board's audit
committee, compensation committee, and nominating and corporate
governance committee are composed entirely of independent
directors. As of the date of this announcement, the Board's audit
committee consists of Mr. Richard Weidong
Ji, Mr. Michael Lingye Zuo, and Mr. Tianyang Zhao, and is chaired by Mr.
Richard Weidong Ji. The Board's
compensation committee consists of Ms. Ning
Zhang, Mr. Michael Lingye Zuo, and Mr. Tianyang Zhao, and is chaired by Ms.
Ning Zhang. The Board's nominating
and corporate governance committee consists of Mr. Michael Lingye
Zuo, Michael Jinbo Yao and Ms.
Ning Zhang, and is chaired by Mr.
Michael Jinbo Yao.
Mr. Sheng Fu, Cheetah Mobile's
Chairman and Chief Executive Officer, stated, "We are honored and
excited to welcome our new board members. Their extensive
leadership experience, investment expertise, and technical
knowledge will make a valuable contribution to us as we build our
next stage of growth. On behalf of Cheetah Mobile's Board of
Directors, I would also like to thank all the previous board
members who have made significant contributions to the Company in
the past. "
Ms. Ning Zhang currently serves
as the Founder and Chairman of Red Avenue Group. Red Avenue Group
researches, produces, and invests in new materials through three
business units: Red Avenue New Materials Group, Red Avenue
Investment Group, and Red Avenue Foundation. Ms. Zhang holds a
doctoral degree in business administration from Arizona State University, an M.B.A. from the
University of Warwick, an E.M.B.A. from
Cheung Kong Graduate School of Business, and a Bachelor of Science
degree in biomedical engineering from Beijing Technology and
Business University.
Mr. Tianyang Zhao currently
serves as the Chief Executive Officer of Beijing Shougang Fund,
which he helped establish in 2010. Beijing Shougang Fund manages 12
funds with RMB48 billion in assets
under management. As a professional investor, Mr. Zhao's
investments focus on four industries: smart parking and smart
cities, medicine, supply chain finance, and sports. In the past few
years, Mr. Zhao led Shougang Group in several public and private
capital market transactions. Mr. Zhao graduated from Peking
University and Cheung Kong Graduate School of Business (EMBA).
Dr. Yi Ma currently serves as a
Professor at the Electrical Engineering and Computer Sciences
("EECS") Department of the University of
California at Berkeley. From 2014 to 2017, he was a
Professor and the Executive Dean of the School of Information and
Science and Technology, Shanghai Tech University, China. From 2009 to early 2014, he was a
Principal Researcher and the Research Manager of the Visual
Computing group at Microsoft Research Asia. From 2000 to 2011, he
was an Associate Professor at the ECE Department of the
University of Illinois at
Urbana-Champaign. His main research interest is in computer
vision and high-dimensional data analysis. He received his
Bachelors' degree in Automation and Applied Mathematics from
Tsinghua University (Beijing,
China) in 1995, Master of Science degree in EECS in 1997,
Master of Arts degree in Mathematics in 2000, and PhD degree in
EECS in 2000, all from the University of
California at Berkeley. He is ranked as the World's Highly
Cited Researchers by Clarivate Analytics of Thomson Reuters since
2016, and ranked among the Top 50 of the World's Most Influential
Authors in Computer Science by Semantic Scholar, according to the
Science Magazine 2016.
Ms. Jie Xiao has been our senior
vice president since November 2014,
after having served as our vice president since October 2010. Ms. Xiao is in charge of business
development, marketing, and commercial products. From 2008 to 2010,
she was a senior manager at the enterprise marketing department of
Baidu, Inc. (NASDAQ: BIDU), focusing on public relations. Before
that, she worked as a public relations director at Qihoo 360
Technology Co., Ltd. and a communications manager for Yahoo!
China. Ms. Xiao received a
bachelor's degree in accounting from Renmin University in 1999.
Mr. Pin Zhou has been our senior vice president since
March 2018, after having served as
our advisor since March 1, 2015. Mr.
Zhou is in charge of sales, strategic investment, human resources,
and part of the Company's smart hardware business. Mr. Zhou has
more than 18 years of experience in Internet industry, with
extensive knowledge in product management and online advertising.
Before joining Cheetah Mobile, Mr. Zhou served as the founder and
CEO of Quwan.com, an e-commerce company in China. Before that, Mr. Zhou held various
managerial positions in Baidu, Herosoft, and Tuopu Software Group.
Mr. Zhou received a bachelor's degree in International Finance from
Shanxi Institute of Finance and Economics in 1999.
Mr. Rui Hao currently serves as
an Executive Director at Tencent
Investment, focusing on Tencent's strategic investment and M&A
activity in the areas of E-commerce, O2O ("Online-to-Offline"), and
Retail. Mr. Hao was responsible for Tencent's strategic investments
in JD.com (NASDAQ: JD), Meituan Dianping, VIPshop (NYSE: VIPS),
58.com (NYSE: WUBA), and many others. Before that, Mr. Hao worked
for Jefferies Hong Kong Limited as Research Analyst covering the
Internet sector. Before that, Mr. Hao worked for Accenture
Consulting as a strategy consultant in the high-tech industry. Mr.
Hao received both a bachelor' degree in e-Commerce and a master's
degree in Management Science and Engineering from Beijing University of Posts and
Telecommunications.
About Cheetah Mobile Inc.
Cheetah Mobile is a leading mobile
Internet company with strong global vision. It has attracted
hundreds of millions of monthly active users through its mobile
utility products such as Clean Master and Cheetah Keyboard, casual
games such as Piano Tiles 2, and 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. The
Company also provides value-added services to its mobile
application users through the sale of in-app virtual items on
select mobile products and games. 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.
Jack Wang
Tel: +1 (646) 417-5395
Email: ir@cmcm.com
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SOURCE Cheetah Mobile