China’s Shanda Appoints New Subsidiary President

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An internal email from Shanda confirmed that the company has appointed Qiu Wenyou, former managing director of Bank of America Merrill Lynch, as its new president and chairman for Shanda Literature.

Official information from Shanda Group recently also confirmed the news and revealed that Qiu will be responsible for the investment and financing operations of Shanda Literature, Ku6 Media, the third-party payment subsidiary Shengpay, Shanda's AA advertising system, and Shanda cloud computing. He will also lead Shanda Literature's publishing business in China and overseas markets as well as Shanda Group's overseas strategy.

Qiu started his career in the investment bank industry and has rich acquisition experience in the technology, media, and telecom industry. Prior to this appointment, he was managing director for Bank of America Merrill Lynch. ...

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