eLong Announces Appointment of Henrik Kjellberg as Interim CEO
April 17 2007 - 10:00PM
PR Newswire (US)
BEIJING, April 17 /Xinhua-PRNewswire/ -- eLong, Inc. (NASDAQ:LONG),
a leading online travel service provider in China, today announced
Tom SooHoo has resigned as CEO of the Company, effective April 16,
2007. The board has appointed eLong's Chairman, Henrik Kjellberg,
as interim CEO of the Company. Mr. Kjellberg is also the President
of Expedia Asia Pacific, a division of Expedia, Inc. Mr. Kjellberg
commented, 'We would like to thank Tom for his contributions to
eLong and wish him all the success in the future. I am excited to
step in as interim CEO of the Company and have enjoyed working with
eLong and its senior management since my appointment to the board
in October of 2005. We have made significant progress over the past
two years, and I look forward to working with the team at eLong to
continue improving the Company's performance.' About Henrik
Kjellberg Henrik Kjellberg has served as Chairman of eLong, Inc.
since March, 2007 and has been a member of its board of directors
since October, 2005. Mr. Kjellberg is also President of Expedia
Asia Pacific, a division of Expedia, Inc. Prior to assuming his
responsibilities in Asia Pacific, Mr. Kjellberg held roles as
Expedia, Inc.'s Senior Vice President of international lodging
& destination services as well as Vice President and Managing
Director, Supply Europe, in which role he oversaw all hotel, car
and destination services for the region. Since joining Expedia in
2001, Mr. Kjellberg has overseen the launches of Expedia
Netherlands and Expedia Italy. Additionally, he has managed
Expedia.com's WWTE(TM) private-label service in Europe. Prior to
joining Expedia, Mr. Kjellberg worked for Procter & Gamble and
Scandinavian Internet portal Spray. Mr. Kjellberg holds a Master of
Science in economics from the Stockholm School of Economics. About
eLong, Inc. eLong, Inc. (NASDAQ:LONG) is a leading online travel
company in China. Headquartered in Beijing, eLong has a national
presence across China. eLong uses web-based distribution
technologies and a 24-hour call center to provide consumers with
access to travel reservation services. Aiming to enrich people's
lives through the freedom of independent travel, eLong empowers
consumers to make informed choices by providing a one-stop travel
solution and consolidated travel tools and information such as
maps, virtual tours and user ratings. eLong has the capacity to
fulfill air ticket reservations in over 57 major cities across
China. In addition to choice of a wide hotel selection in the
Greater China region, eLong offers Chinese consumers the ability to
make bookings at international hotels in over 140 destinations
worldwide. eLong operates the websites http://www.elong.com/ and
http://www.elong.net/ . About Expedia, Inc. Expedia, Inc. is the
world's leading online travel company, empowering business and
leisure travelers with the tools and information they need to
easily research, plan, book, and experience travel. Expedia, Inc.
also provides wholesale travel to offline retail travel agents.
Expedia, Inc.'s portfolio of brands includes: Expedia.com(R),
hotels.com(R), Hotwire(R), Expedia(R) Corporate Travel,
TripAdvisor(R) and Classic Vacations(R). Expedia, Inc.'s companies
also operate internationally with sites in Canada, the United
Kingdom, Germany, France, Italy, the Netherlands, Norway, Sweden,
Denmark, Australia, Japan and China, through its investment in
eLong(TM). For more information, visit http://www.expediainc.com/
(NASDAQ:EXPE). Expedia, Expedia.com are either registered
trademarks or trademarks of Expedia, Inc. in the U.S. and/or other
countries. Classic Vacations is either a trademark or registered
trademark of Classic Vacations, LLC in the U.S. and/or other
countries. hotels.com is either a trademark or registered trademark
of hotels.com, L.P., a subsidiary of hotels.com in the U.S. and/or
other countries. Hotwire is either a trademark or registered
trademark of Hotwire, Inc. in the U.S. and/or other countries.
TripAdvisor is either a trademark or registered trademark of
TripAdvisor, LLC in the U.S. and/or other countries. Other logos or
product and company names mentioned herein may be the property of
their respective owners. (C) 2007 Expedia, Inc. All rights
reserved. CST: 2029030-40 Safe Harbor Statement Statements in this
press release concerning eLong's future business, operating results
and financial condition are "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in the Private Securities Litigation Reform Act of
1995. Words such as 'anticipate,' 'believe,' 'estimate,' 'expect,'
'forecast,' 'intend,' 'may,' 'plan,' 'project,' 'predict,' 'should'
and 'will' and similar expressions as they related to the Company
are intended to identify such forward-looking statements. These
forward looking statements are based upon management's current
views and expectations with respect to future events and are not a
guarantee of future performance. Furthermore, these statements are,
by their nature, subject to a number of risks and uncertainties
that could cause actual performance and results to differ
materially from those discussed in the forward-looking statements
as a result of a number of factors. Factors that could affect the
Company's actual results and cause actual results to differ
materially from those included in any forward-looking statement
include, but are not limited to, eLong's historical operating
losses, its limited operating history, declines or disruptions in
the travel industry, the recurrence of SARS, an outbreak of bird
flu, eLong's reliance on having good relationships with hotel
suppliers and airline ticket suppliers, collection risk with
respect to eLong's corporate travel accounts receivable, the
possibility that eLong will be unable to timely comply with Section
404 of the Sarbanes-Oxley Act of 2002, the risk that eLong will not
be successful in competing against new and existing competitors,
risks associated with Expedia, Inc.'s (NASDAQ:EXPE) majority
ownership interest in eLong and the integration of eLong's business
with that of Expedia's, subsequent revaluations of the Chinese
currency, changes in eLong's management team and other key
personnel and other risks outlined in eLong's filings with the U.S.
Securities and Exchange Commission (or SEC), including eLong's Form
20-F filed with the SEC in connection with the Company's fiscal
year 2004 results. Readers are cautioned not to place undue
reliance on any forward-looking statements, which speak only as of
their dates. For more information, please contact: Raymond Huang
Investor Relations Manager eLong, Inc. Tel: +86-10-5860-2288 x6633
Email: DATASOURCE: eLong, Inc. CONTACT: Raymond Huang, Investor
Relations Manager of eLong, Inc., +86- 10-5860-2288 x6633, or Web
Site: http://www.expediainc.com/ http://www.elong.com/
http://www.elong.net/
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