Chinese mobile value-added services firm Hurray (HRAY) announced that its co-founder Jesse Liu will resign from his position as CFO on June 30.

Liu held that position for six years, but after his resignation, he will remain a board member and continue to assist the company in its strategic transformation towards becoming a leading entertainment content provider and distributor in China. Sean Wang, currently president and chief operating officer of the company, will also assume the role of acting CFO of the company.

"As a co-founder, Jesse has been instrumental in developing and executing our initial strategy, raising private finance culminating in our successful IPO on Nasdaq, and more recently working on our transformation strategies. We appreciate his invaluable contribution since inception and look forward to benefiting from his continued support as a member of the board," remarked QD Wang, chairman and CEO of the company.

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