Shanda Interactive Entertainment Limited (NASDAQ:SNDA) has confirmed a shakeup of its management team and appointed a new president, along with several other senior executives.
The company said Qunzhao Tan — a co-founder of Shanda and most recently executive senior vice president and president of Shanda Games, Shanda’s online game business unit — has been named president .
Tan succeeds Tang Jun. Local media have reported that Tang would resign this month to join a venture capital firm.
Shanda said Tang will remain as a member of Shanda’s board of directors and serve as an advisor to the chief executive officer (CEO), Chen Tianqiao.