KongZhong's (KONG) Chief Financial Officer, JP Gan, will be leaving the company on December 31, 2006 to pursue a career in venture capital.
The company will now search for a new chief financial officer.
Yunfan Zhou, KongZhong's Chairman and Chief Executive Officer, said, "On behalf of the company, I would like to express our sincere gratitude for JP's contribution to KongZhong over the past year. JP has done a great job in our financial management and investment activities and has helped to maintain good relationships with our investors. We respect his decision to move on and seek new opportunities, and wish him all the best in his future career."
In related news, KongZhong says it has promoted Jillian Wong from Vice President to Senior Vice President, responsible for corporate development and investor relations. Yang Yang, currently general manager of the finance department and corporate controller, is also promoted to Vice President in charge of finance and accounting. These promotions will take effect immediately.