China Mobile Games And Entertainment Names Shuling Ying COO - Quick Facts

(RTTNews) - China Mobile Games and Entertainment Group Ltd. or "CMGE" (CMGE) said that Shuling Ying has been appointed as its new chief operating officer or COO, effective today.

The company said that Ying's key responsibility is to supervise its mobile game publishing business for third party content providers. Ying previously served as the company's President from October 2013 to June 2014 and has wide experience in the licensing, publishing, operation and marketing of mobile games and helping to manage its publishing business. Prior to this, he had worked at the Shanghai branch of Standard Chartered Bank.

The firm's previous COO, Hu Zhenyu, has been named Senior Vice President, effective today. Hu's major responsibilities would be in self-developed games division as well as assisting in the integration of all investment activities.

Further, CMGE has been informed that Ying and Ken Jian Xiao, the company's CEO and Director, plan to individually purchase RMB10 million each of the firm's American Depositary Shares or "ADSs". The company has been informed that the repurchases would be made in the open market at prevailing market prices or via. privately negotiated transactions.