Ku6 , a china based online video company has announced CEO Shanyou Li’s resignation. Acting CEO Haifa Zhu will take over for the time being. In a statement, it was said that Li resigned to pursue other career opportunities. He will also remain a Board member of Ku6 Media.
Bruno Wu, Chairman of the Board of Ku6 Media, commented, “As founder and CEO, Kevin has provided excellent leadership and service to the Company. The Board would like to thank Kevin for his tremendous contributions to Ku6, and wish him continued success in his career change. We are also pleased to have Haifa joining the Ku6 management team as Acting CEO. We believe that Haifa’s leadership will ensure a smooth transition while Ku6’s continues to build on its leading position in the industry and to bring more satisfying viewing experience to its users.”
However, Sina and Technode both reported a different story. The resignation was mainly triggered by a conflict between CEO Li and Shanda’s CEO Tianqiao Chen over strategic differences for Ku6. Chen wanted Ku6 to focus on information and news while Li wanted to license movies and drama serials.
Li, as founder and CEO of Ku6 wanted to follow YouKu and Tudou’s footsteps to license content. It is a step that would meet demand in the country but also put Ku6 head on with other giant online video site. With Li leaving the company, we would expect Ku6 to take a different approach, focusing on news and information. No details are revealed, though.
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