Executive VP Zhang resigns at 58.com

29 Nov 2016

Zhang Chuan, executive VP of 58.com Inc. (NYSE: WUBA), China’s largest online classified marketplace, resigned with immediate effect on Nov. 29. Zhang was VP of product management from Sept. 2011. No official reason was given for the step.

According to a company statement, Zhang’s resignation was not due to any disagreement with the company regarding its business, finance, accounting and/or any other affairs.

Zhang would work with the company to ensure a smooth transition with his successors, the company said.

Zhang’s responsibilities will be taken over by Xing Hongyu, chief technology officer, Zhuang Jiandong, executive VP, He Mingke, senior VP, and certain vice presidents.

From July 2006 to September 2011, he served as head of Baidu Union product department at Baidu, Inc., where he was responsible for Baidu Union product development and operations. From May 2005 to July 2006 he was senior product manager at the mobile department of UFIDA Software.

Zhang received a bachelor’s degree in mathematics from Beijing Normal University in 1997, and an MBA degree from Tsinghua University in 2003.

Michael Yao Jinbo, chairman and CEO of 58.com, commented: “I’d like to sincerely thank Chuan for his loyalty and contribution to the company over the past five years. We wish him all the best in his future endeavors. We have been strengthening our senior management teams through external hiring and internal promotions in the past several years, and we will continue to do that. I have the upmost confidence in our current management team and their ability to efficiently manage their respective business units.”

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Don Gasper