Yahoo China chief resigns amid corporate overhaul

29 Nov 2006
00:00

The president of Yahoo China has resigned after barely 40 days on the job, Yahoo China owner Alibaba.com, quoted by a Reuters report, said.

Alibaba.com is also in the middle of revamping the Internet search firm in an effort to make it profitable, the Reuters report said.

The Reuters report said Xie Wen, who was CEO of Chinese financial Web portal Hexun.com before joining Yahoo China, decided to leave his position for personal reasons, according to a company statement.

He had formally joined Yahoo China on October 17, the report said.

'Essentially, he's left for personal reasons,' Alibaba communications director Christina Splinder, was quoted as saying.

Xie will become a strategic advisor to Alibaba, while Yahoo China's head of strategy development Zeng Ming will serve as acting president, the company said.

Xie could not be located for comment.

A Chinese Internet industry analyst, who declined to be named, said Xie's resignation might be a result of conflicting opinions on the way forward for Yahoo China, which has been restructuring since Alibaba, China's largest e-commerce firm, took it over a little more than a year ago, the Reuters report said.

'They're still in the middle of a transition, so I think there's going to be a lot of changes in Yahoo China,' said the analyst.

Yahoo China was absorbed by Alibaba last year when Yahoo of the US bought a 40% stake in Alibaba for $1 billion.

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