Momo Inc., a leading mobile social networking platform in China,  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.

Marketing Technology News: Time to Spend More on Influencer Marketing Across Multimedia Channels, Including OOH and Online Radio

“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.

Marketing Technology News: Teads Launches Teads Conversions

“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 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.”

Marketing Technology News: Study: Brands Have Yet to Create the Post-COVID-19 Digital and Mobile Experiences Customers Value Most