Qunar Cayman Islands Limited (NASDAQ:QUNR) ("Qunar" or the
"Company"), China’s leading mobile and online travel platform,
today announced changes to its management and board of directors
(the “Board”), which are effective as of January 4, 2016. Mr.
Zhenyu Chen, Qunar’s Executive Vice President and Head of Mobile
Business Group, has been appointed as Qunar’s chief executive
officer. Mr. Qiang Zhang, Qunar’s Executive Vice President
and Head of Destination Services Business Group, will assume the
role of its chief operating officer. Mr. Xiaolu Zhu, Qunar’s
Senior Director of Strategy and Investor Relations, has been
appointed as Qunar's chief financial officer. Qunar's
co-founder Mr. Chenchao “CC” Zhuang will no longer serve as Qunar’s
director and chief executive officer, and Ms. Yilu Zhao will no
longer serve as its chief financial officer.
Mr. Zhuang and Ms. Zhao will serve as Qunar’s
senior advisors until the end of the first quarter of 2016 and play
significant roles in supporting the cooperation between Ctrip.com
International, Ltd. (“Ctrip”) and Qunar.
In addition, Qunar announced changes to its
Board. The new Board will consist of five members, namely
James Liang, Chairman of the Board and Chief Executive Officer of
Ctrip, Mr. Zhenyu Chen, Qunar's new chief executive officer, and
three independent directors, Mr. Jimmy Lai, Mr. Jianmin Zhu and Ms.
Ying Shi.
“I am immensely grateful to many people who have
collectively created and grown Qunar into the success it is today,”
said Mr. Zhuang. “I want to thank our employees for giving
Qunar their passion, drive and ingenuity. I want to thank our
shareholders, in both private and public markets, for their strong
conviction in us. I want to thank our board of directors, some of
whom have accompanied us from the beginning, for guiding us
throughout our journey of innovation. I wish the very best
for the cooperation between Ctrip and Qunar, and believe that the
potential for the two companies will be tremendous.”
“Yilu and I will continue to be deeply involved
in the innovation and technology space. It’s incredibly exciting,
and we are very much looking forward to the future.” Mr. Zhuang
added.
“We are very proud of what the team has achieved
in the last few years,” commented Mr. Zhenyu Chen. “We will
continue our strategy and, together with Ctrip, we will build a
more robust travel eco-system in China and bring long term
synergies and value to our shareholders.”
“On behalf of the board, we thank CC and the
team for their dedication and tremendous contribution to Qunar,”
said Mr. James Liang. “I am confident that Zhenyu will lead the
Qunar team to further extend its market leadership and am looking
forward to the great opportunity in the dynamic and fast growing
travel industry in China.”
Mr. Zhenyu Chen joined Qunar in March 2010 as
Vice President for products and mobile development. He became
Executive Vice President of Qunar and Head of the Mobile Business
Group in November 2014. Zhenyu is responsible for the development
of Qunar’s mobile application and the growth of the mobile
business, which contributed over 73% of Qunar’s total revenue in
the third quarter of 2015. Prior to joining Qunar, Zhenyu was CTO
and Co-Founder of Zhuaxia.com from December 2005 to June 2009.
Zhenyu also worked at Baidu, Inc. from January 2001 to November
2005 first as an engineer, and was later promoted to senior manager
of the search department. Mr. Chen received his bachelor’s degree
in computer software from Wuhan University of Hydraulic and
Electrical Engineering in 1999.
Mr. Qiang Zhang joined Qunar in January 2014 as
Vice President and the Head of the then newly founded Destination
Services Business Unit. He became Executive Vice President of Qunar
and Head of the Destination Services Business Group in September
2015. Under the leadership of Mr. Zhang, Qunar established a
powerful direct sales team, covering over 300,000 hotels within a
few quarters and built one of the most comprehensive accommodation
networks in the industry. He also helped to develop the mobile
business of Qunar. Mr. Zhang previously worked at Alibaba Group and
Meituan.com, and as general manager of Southern region of Meituan
prior to joining Qunar. He was named the national sales champion of
Alibaba for multiple years. As the general manager of the Southern
region of Meituan, Qiang was responsible for managing a 1,200
people sales team that was the sales champion in the region. Qiang
received his bachelor’s degree in computer science from the Air
Force Engineering University.
Mr. Xiaolu Zhu joined Qunar in November 2014 and
served as Senior Director of Strategy and Investor Relations. His
responsibilities covered strategy and business analysis, investor
relations, capital markets activities and international investment.
Prior to joining Qunar, Xiaolu was VP of Finance at Lashou Group
Inc. and in charge of all financial, investor relations and legal
related matters. Before that, Xiaolu worked at Goldman Sachs where
he helped with multiple IPOs and M&A transactions of Chinese
Internet and technology companies. Xiaolu received his L.L.B.
from Peking University and J.D. from Duke University.
Mr. Jimmy Lai will join Qunar’s Board as an
independent director and will serve as the Chairman of the audit
committee. Mr. Lai has served as the chief financial officer of
China Online Education Group since June 2015 and is also an
independent director of Sky-mobi Limited, a Nasdaq-listed company.
Prior to joining China Online Education Group, Mr. Lai served as
the chief financial officer of Chukong Technologies Corp., a
leading mobile entertainment platform company in China. Prior to
that, Mr. Lai served as the chief financial officer of Gamewave
Corporation, a leading webgame company in China from 2011 to 2013.
Prior to that, Mr. Lai served as the chief financial officer of
Daqo New Energy Corp., an NYSE-listed company and a leading
polysilicon manufacturer based in China from 2009 to 2011. Mr. Lai
received his MBA in accounting from the University of Texas at
Dallas and his bachelor’s degree in statistics from the National
Cheng Kung University in Taiwan. Mr. Lai is a certified public
accountant licensed in the State of Texas.
Mr. Jianmin Zhu will join Qunar’s Board as an
independent director. He currently serves as chief executive
officer of FanXiang Investment Management. He founded the company
in 2014. He is also one of the co-founders of Infecon Information
Technology and worked as its advisor from 2012 to 2013. Mr. Zhu is
well-respected for his expertise in investment and information
technology. Prior to starting his own business, Mr. Zhu worked with
Ctrip as a vice president before 2011. Prior to that, Mr. Zhu
worked with Compaq as senior adviser and with RPTI International as
chief technology officer. Mr. Zhu holds a bachelor’s degree from
Shanghai JiaoTong University.
Ms. Ying Shi will join Qunar’s Board as an
independent director. She is the founder and executive of Shiva
Yoga Media since 2008. Prior to that, Ms. Shi worked extensively in
the travel industry in China. Ms. Shi is well respected for her
experience in the health care, therapy and travel industry. Ms. Shi
holds a bachelor’s degree from Shandong University.
Forward-looking Statements
This announcement 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," "confident" and
similar statements. Among other things, quotations from management,
as well as Qunar's strategic and operational plans,
contain forward-looking statements. Qunar may also make
written or oral forward-looking statements in its periodic reports
to the U.S. Securities and Exchange Commission, 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 Qunar'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: the Company's goals and strategies; its
future business development, financial condition and results of
operations; the expected growth of the online travel markets in
China; the Company's expectations regarding demand for and market
acceptance of its products and services; its expectations regarding
relationships with users and travel service providers; its plans to
invest in the technology platform; competition in the industry;
fluctuations in general economic and business conditions in China;
and relevant government policies and regulations relating to the
industry. Further information regarding these and other risks is
included in the documents filed with the U.S. Securities and
Exchange Commission. All information provided in this announcement
is as of the date of the announcement,
and Qunar undertakes no duty to update such information,
except as required under applicable law.
About Qunar
Qunar is China’s leading mobile and online
travel platform. With a commitment to building a travel ecosystem
serving the entire travel industry value chain, Qunar is evolving
the way people travel in a world increasingly enabled by
technology. Qunar addresses the needs of Chinese travelers and
travel service providers by efficiently matching industry supply
and demand through its proprietary technologies. By providing
technology infrastructure for travel service providers on mobile
and online platforms, Qunar integrates and offers the most
comprehensive selection of travel products and the most convenient
means to complete desired transactions for Chinese travelers.
Qunar means “where to go” in Mandarin
Chinese.
For more information, please visit
http://ir.qunar.com.
For investor inquiries, please contact:
Investor Relations
Qunar Cayman Islands Limited
Tel: +86-10-5764-6223
Email: ir@qunar.com
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