Shanda Games, one of the top 5 gaming companies in China, announced the dismissal of former CEO Mr Xiangdong Zhang earlier today. According to reports, the board of directors did not agree with Zhang’s management and business strategies, along with dismal revenue during his reign.
The interim CEO position has been handed to Mr Yingfeng Zhang, a veteran in Shanda who held various positions since joining in 2001. In my opinion, Shanda Games went backwards during the past 2 years under the former CEO, giving a chance for competitors like ChangYou to rise above it.
Shanda is also known for its overseas companies, including Shanda Games International (Southeast Asia and Europe), Actozsoft (South Korea) and Eyedentity Games (South Korea). Like most of its Chinese competitors, bar Perfect World, Shanda has found it tough expanding beyond China.
