CMGE announced organizational restructuring and employee changes in its game publishing business today. The purpose of the restructuring is to streamline the company’s operations to better position it for profitable long-term growth.
The chief executive officer has been tasked with conducting organizational reviews and structural realignments. As part of the organizational restructuring of its publishing business, on June 19, 2014 the company removed nine employees from their positions in the publishing business, including Mr. Ying.
Interestingly, CMGE does not expect this restructuring, including the personnel changes, to have a material adverse impact on its overall operations.. Elsewhere, the company announced that its board of directors has authorized an independent committee, consisting solely of independent directors, to look into the market speculations.