JOYY Announces Leadership Transition
August 02 2024 - 5:00PM
JOYY Inc. (Nasdaq: YY) (“JOYY” or the “Company”), a global
technology company, today announced that its board of directors
(the “Board”) has approved a carefully planned leadership
succession. Ms. Ting Li, currently Director and Chief Operating
Officer of the Company, will succeed Mr. David Xueling Li as
Chairperson of the Board (“Chairperson”) and Chief Executive
Officer (“CEO”), effective immediately. Mr. David Xueling Li will
continue serving as a member of the Board, ensuring continuity and
supporting ongoing business momentum.
Mr. David Xueling Li stated, “JOYY has become highly globalized,
cultivating an engaging and vibrant user community worldwide. With
robust localized operations and continuous innovation, we are
poised to further diversify our revenue streams and seize new
growth opportunities. The Board and I believe that this is the
optimal time for leadership transition. I will remain as a member
of the Board, exploring new long-term prospects while supporting
the team.”
Mr. David Xueling Li continued, “Ms. Ting Li’s exceptional
contributions and strategic vision make her the ideal leader for
our next growth phase. As Chief Operating Officer, she has
successfully steered our operations through various challenges. Her
deep understanding of our past and future direction, coupled with
her recent Board experience, ensures a smooth transition.”
Ms. Ting Li commented, “I am grateful for the Board’s trust and
I am honored to take on new responsibilities of Chairperson and
CEO. We have been dedicated to globalization through localization
and expansion of our global presence continually. Looking ahead, we
will continue nurturing our content and social entertainment
ecosystems and reinforcing our market position. By driving product
innovations and operation refinement, we aim to strengthen the
foundation and efficiency of our monetization capabilities. In
addition, we will keep cultivating initiatives for the long run in
order to further diversify revenue and achieve sustainable
long-term growth.”
Effective immediately, Ms. Ting Li will assume the roles of
Chairperson and CEO. She has been with the Company since 2011,
serving as Chief Operating Officer since 2016, and joined the Board
in November 2023. Her contribution in developing JOYY’s ecosystem
and enriching its content and product offerings has been pivotal.
Prior to joining the Company, Ms. Li served as a product manager at
Tencent from 2006 to 2011 after receiving a bachelor’s degree from
South China University of Technology.
About JOYY Inc.
JOYY is a leading global technology company with
a mission to enrich lives through technology. JOYY currently
operates several social products, including Bigo Live for live
streaming, Likee for short-form videos, Hago for multiplayer social
networking, an instant messaging product, and others. The Company
has created a highly engaging and vibrant user community for users
across the globe. JOYY’s ADSs have been listed on the NASDAQ since
November 2012.
Safe Harbor Statement
This press release contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of 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.
Among other things, the quotations from management in this press
release, as well as JOYY’s strategic and operational plans, contain
forward-looking statements. JOYY may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (“SEC”), in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about JOYY’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: JOYY’s goals and strategies; JOYY’s future business
development, results of operations and financial condition; the
expected growth of the global online communication social platform
market; the expectation regarding the rate at which to gain active
users, especially paying users; JOYY’s ability to monetize the user
base; the developments in the sale of YY Live; fluctuations in
global economic and business conditions; and assumptions underlying
or related to any of the foregoing. A more detailed and full
discussion of those risks and other potential risks is included in
JOYY’s filings with the SEC. All information provided in this press
release is as of the date of this press release, and JOYY does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law.
Investor Relations Contact
JOYY Inc.Jane Xie/Maggie YanEmail: joyy-ir@joyy.com
ICR, Inc.Robin YangEmail: joyy@icrinc.com
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