Sina COO to Step Down

Hurst Lin plans to pursue a venture capital career.
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Sina

(SINA) - Get Report

, a Shanghai-based online media company, said Chief Operating Officer Hurst Lin is resigning to pursue a venture capital career.

Lin will remain in his post until March 31. Sina also said he was appointed to the board, effective immediately. Lin was a co-founder of SinaNet, one of the two predecessor companies of Sina.

''Hurst has contributed greatly to the founding and the development of Sina and we are sad to see him leave, but we also understand his decision to move on and seek new challenges. We wish him the very best in his future endeavors," Wang Yan, the company's CEO, said in a statement Friday.

Shares of Sina were rising 43 cents, or 1.8%, to $24.28.