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Focus changes
(China Daily)
Updated: 2008-05-22 10:05
Advertising network operator Focus Media recently announced that Charles Chao (right), chief executive and president of Sina Corp, will become a non-independent director on Focus' board. The company said it was involved in transactions with Sina Corp last year that exceeded 5 percent of Sina's revenue, and under NASDAQ rules, this disqualified Chao from continuing as an independent director. It also said non-independent director and Target Media's founder Yu Feng had resigned. Meanwhile, Wu Ying, founder of UTStarcom, was appointed as an independent director.
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