Linktone Ltd., a leading provider of wireless interactive entertainment products and services to consumers in China, today announced the appointments of Richard Xu and Liaoyuan Du to the newly created positions of Senior Vice President, Operation and Senior Vice President, Sales, respectively, in order to further strengthen the management team.
Following the body of the press release which details the professional experience of the two new employees (Xu comes from China Netcom and Du from AsiaInfo) there is a final, somewhat dismissive paragraph:
Linktone also reported that, Michael Li, has resigned as Chief Operating Officer and will leave the Company effective January 3, 2006 in order to pursue other career options. Mr. Li joined Linktone in April 2003 and has played an important role in the growth of the Company's wireless business over the past 2 years. "We wish Michael all the best in his future endeavors," added Mr. Yang.
Comment: The timing of the press release and swift mention of the COO's immediate departure are somewhat strange considering that most major financial markets around the world are closed today and investors are likely busy enjoying holiday activities. Is there more to this story?