SHANGHAI, Aug. 31, 2012 /PRNewswire-Asia/ -- SINA Corporation (NASDAQ GS: SINA), a leading online media company serving China and the global Chinese communities, today announced the resignation of Yan Wang as chairman of the board and the appointment of Charles Chao as chairman of the board and Chief Executive Officer of the Company effective immediately. SINA also announced that it plans to set up a charity foundation and that Mr. Wang will lead the effort. Mr. Wang will remain as a director on SINA's board.
"In the last three years, Charles has transformed SINA from a leading portal to a leading digital media company powered by both a leading portal and a leading social media platform. I am confident that his strong and visionary leadership will take SINA's Internet platform to the next level," said Mr. Wang.
"On behalf of the Board and management, I would like to express my sincere gratitude to Yan Wang for his distinguished service as one of the founding members of SINA Internet business and as chairman of the Board," said Charles Chao. "Over the past several years, Mr. Wang has devoted most of his time and effort to charity work in China. We are grateful that Mr. Wang will lead SINA's charity effort and help the Company contribute to a better society."
Mr. Chao has served as a director and the Company's Chief Executive Officer since May 2006. Previously, he served as SINA's President since September 2005, as SINA's Chief Financial Officer from February 2001 to May 2006, as SINA's Co-Chief Operating Officer from July 2004 to September 2005, as SINA's Executive Vice President from April 2002 to June 2003 and as SINA's Vice President, Finance from September 1999 to January 2001.About SINA We are an online media company serving China and the global Chinese communities. Our digital media network of SINA.com (portal), SINA.cn (mobile portal) and Weibo.com (social media) enable Internet users to access professional media and user generated content in multi-media formats from the web and mobile devices and share their interests to friends and acquaintances. SINA.com offers distinct and targeted professional content on each of its region specific websites and a range of complementary offerings. SINA.cn provides information and entertainment content from SINA portal customized for WAP users. Based on an open-platform architecture to host organically developed and third-party applications, Weibo.com is a form of social media, featuring microblogging services and social networking services that allow users to connect and share information anywhere, anytime and with anyone on our platform.