Shanda Interactive Says Board Member Has Resigned

NEW YORK (AP) — Multiplayer online game operator Shanda Interactive Entertainment Ltd. said board member Bruno Wu resigned at the beginning of the month.

The Shanghai-based company said on Monday it has named Kai Zhao, former dean of the Journalism School of Fudan University, to replace him.

Shanda did not offer a reason for Wu's departure. A message left with the company seeking comment was not immediately returned.

In a statement, Shanda CEO Tianqiao Chen said, "We highly appreciate Bruno's dedication and contribution to Shanda's fast growth over the years. We wish him all the best in his future endeavors."

Shanda shares fell $1.74, or 3.5 percent, to $47.95 in trading Tuesday.