BEIJING, June 21, 2018 /PRNewswire/ -- Cheetah Mobile Inc.
(NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile
internet company with strong global vision, today announced that
its President, Mr. Ming Xu, has
resigned for personal reasons, effective July 21, 2018. Mr. Xu will continue to serve as a
consultant and help with the Company's strategic planning. His
previous responsibilities will be assumed by the Company's CEO, Mr.
Sheng Fu, and Senior Vice President,
Mr. Edward Mingyan Sun.
Mr. Sheng Fu, Cheetah Mobile's
Chairman and Chief Executive Officer, stated, "I would like to
thank Ming for his extraordinary contribution to building and
growing Cheetah Mobile since its inception. Ming was instrumental
in Cheetah Mobile's transformation into a global mobile internet
company. He played key roles in expanding our product portfolio,
building our data analytics capabilities, and grooming a capable
management team for us. While we deeply regret his departure, we
respect his decision and sincerely wish him the best in all of his
future endeavors."
Mr. Ming Xu said, "My eight-year
career at Cheetah Mobile and more than ten years of collaboration
with Sheng Fu have left me with
incredible memories that I will cherish tremendously. I sincerely
thank Sheng Fu and my colleagues for
the unwavering support that all of them have given me throughout my
career at Cheetah Mobile. In assuming my new role as a consultant
to the Company, I will watch Cheetah Mobile's success from the
sidelines. I am confident that the remaining management team will
continue to achieve their long-term goals and generate shareholder
value."
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 LiveMe. 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