(Yicai Global) Dec. 14 -- Chinese internet company Xunlei Ltd.[NASDAQ:XNET] recently announced a high-level personnel change as founder and former chairman Zou Shenglong has stepped down citing family reasons, with Wang Chuan, co-founder of leading handset manufacturer Xiaomi Inc., set to take over his post.
Zou Shenglong released an open letter on Dec. 12 saying he will step down, but stay involved in Xunlei’s management as a board member, IThome reported yesterday.;"I am very pleased to recommend Wang Chuan as Xunlei’s chairman and believe he will lead the company to a more prosperous future," Zou Shenglong wrote in the letter.
Wang Chuan has been the senior vice president of the company in charge of its television business for many years. He has also held a concurrent post as a Xunlei director since March 2014.
Xunlei’s board has agreed that Wang Chuan has the management experience and professional ability to run a top internet firm, and has participated in the planning and promotion of Xunlei's business transformation in recent years, which makes him the right person to usher in new development. Xunlei has just ended its infighting with its Big Data unit, a conflict that arose over brand licensing, followed by a bombshell in the form of the scandalous benefit transfer involving its senior executives and illegal fund-raising implicating its block-chain products. Xunlei has now settled these issues with its subsidiary, allowing the latter to operate independently under a new brand while maintaining a cooperative relationship with its parent.