Chinese online sports lottery provider 500.com has announced that its Chairman, Lian Qi, has stepped down from the board effective from 1 November 2017, replaced by Yonghong Zhang.
Mr Zhang, who will now chair the board as well as joining the Compensation Committee and chairing the Strategy Committee of the Board, has been Vice President of Tsinghua Unigroup since December 2015. Prior to that he was President of the China Region of Acer Group from November 2009 to October 2015, Vice President of CHINA HP Co Ltd. from October 1998 to November 2009 and Deputy General Manager of Lenovo Group Ltd from April 1993 to June 1996.
Mr Zhang received a master’s degree in engineering in precision machinery from the University of Science and Technology of China in 1993 and a bachelor of engineering degree in precision instrument from Tsinghua University in 1990.
“On behalf of the Board of Directors, I would like to express our sincerest gratitude to Mr Lian Qi, for his outstanding contributions to the company over the past year,” he said Zhang. “We wish him success in his future endeavors.”