CHANGES AT THE TOP FOR CHINESE ONLINE LOTTERY OPERATOR
New chairman and a new director for 500.com.
Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.
In a stock exchange filing Sunday the changes were announced, with Lian Qi taking over as the new chairman, and one Bo Yu, an expert in legal and compliance, joining the board as a director.
Qi is the co-president and a director of Tsinghua Unigroup and the chairman of Unisplendour Technology (Holdings) Limited. He has executive management experience with the Tsinghua Unigroup since 1992, with emphasis on investment and strategic planning, and holds a Masters in business administration from the Chinese University of Hong Kong, along with a Masters in engineering from Tsinghua University.
In the announcement, Qi thanked the two departing executives and applauded their "invaluable" service and contributions to the company.