Lei, who was vital in transforming Kingsoft from a traditional software into an on demand software company, replaces Kau Pak Kwan upon the latter’s recommendation.
Kingsoft Corporation Limited (“Kingsoft”), a leading entertainment software, Internet security and application software developer, distributor and service provider in the PRC, announced that Mr. Pak Kwan KAU has resigned from the position of Chairman.
Mr. Kau recommended Mr. Jun Lei as the new Chairman and the appointment was approved by the nomination committee of the Company and the Board with contemporaneous effect from Mr. KAU’s resignation on 5 July 2011. Furthermore, Mr. KAU intends to resign from the position of chief executive officer of the Company within six months from Tuesday. Mr. Kau and Mr. Lei will exercise their best endeavors to assist the Company to seek out a suitable candidate to succeed Mr. Kau before his resignation as chief executive officer takes effect, as mentioned in a Kingsoft report.
As a gesture of continuing support and commitment to the Kingsoft, Mr. Lei practices a voluntarily lock-up for all the shares of Kingsoft he holds – within the first year, he will not dispose any of his shares; and within the second and third years, he will not dispose over 50% of his shares, in any means, either directly or indirectly
Mr. Pak Kwan Kau, Chief Executive Officer of Kingsoft, said, “Lei Jun is a top-tier veteran in the industry and has been with Kingsoft for many years. He has a thorough understanding about the Company as well as the market, and his contribution was significant to the achievement of Kingsoft. Led by Lei, Kingsoft will definitely continue to create brilliant achievement. Despite my resignation of the position of Chairman, I will still be dedicated to the development of Kingsoft, assisting Lei for the sustainable growth of the Company.”
Mr. Jun Lei, the newly appointed Chairman of Kingsoft, said, “I would like to express my gratitude to the Board and Mr. Kau. Kau has been my best counterpart for years. Succeeding the position as the Chairman, I will be devoted to promoting the sustainable development of Kingsoft, capturing the unprecedented opportunity for the development of cloud technology as well as the mobile Internet platform for innovation and expansion of business scale, and ultimately leading Kingsoft to the new era in the industry.”
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