BEIJING, Oct. 23, 2020 /PRNewswire/ -- Momo
Inc. (Nasdaq: MOMO) ("Momo" or the "Company"), a leading
mobile social networking platform in China, today announced that its board of
directors (the "Board") has approved Mr. Yan Tang to step down from the position of Chief
Executive Officer, and promoted Mr. Li
Wang to this position, effective on November 1, 2020. Mr. Wang is a director of the
Company, currently serving as the President and Chief Operating
Officer of Momo. Starting from November 1,
2020, Mr. Yan Tang will
become the executive chairman of the board of directors of Momo, in
which role he will continue to be integrally involved in setting
the strategic priorities and directing new business initiatives for
Momo.
"I can think of no one better to lead Momo than Li Wang. Li's experience as our President and
Chief Operating Officer, combined with a career spanning nearly a
decade with the Company, make Li the perfect choice as the new
Chief Executive Officer. Li has the proven leadership track record
and breadth of business experience we believe are critical to lead
Momo, including the ability to execute our strategic vision, the
commitment to our people and core values, and the focus on
delivering return to shareholders. I am delighted to be handing
over the reins to such an outstanding leader and look forward to
working together with Li to set the course for Momo into an even
brighter future," said Mr. Tang.
"I know that I speak for everyone at Momo in thanking Mr.
Yan Tang for his leadership and
tireless dedication to the company," said Mr. Li Wang. "We have an exceptionally talented team
at Momo that is focused on taking decisive actions to transform the
business, continuing to innovate our products in new and diverse
ways, and unlocking future growth opportunities."
Mr. Li Wang has been our Chief
Operating Officer since June 2014 and
our President since April 2018. Mr.
Wang joined the Company as a core member of the founding team in
2011.
About Momo Inc.
We are a leading player in China's online social and entertainment space.
Through Momo, Tantan and other properties within our product
portfolio, we enable users to discover new relationships, expand
their social connections and build meaningful interactions. Momo is
a mobile application that connects people and facilitates
interactions based on location, interests and a variety of
recreational activities including live talent shows, short videos,
social games as well as other video- and audio-based interactive
experiences, such as live chats and mobile karaoke experience.
Tantan, which was added into our family of applications through
acquisition in May 2018, is a leading
social and dating application for the younger generation. Tantan is
designed to help its users find and establish romantic connections
as well as meet interesting people.
For investor and media inquiries, please contact:
Momo Inc.
Momo Investor Relations
Phone: +86-10-5731-0538
Email: ir@immomo.com
Christensen
In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
E-mail: Eyuan@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
Safe Harbor Statement
This news release contains "forward-looking" statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the Private Securities Litigation Reform
Act of 1995.
Our forward-looking statements are not historical facts but
instead represent only our belief regarding expected results and
events, many of which, by their nature, are inherently uncertain
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circumstances may differ, possibly materially, from the anticipated
results and events indicated in these forward-looking statements.
In addition, there are other risks and uncertainties that could
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SOURCE Momo Inc.