YOU On Demand sent out the following today…
YOU On Demand Announces Appointment of Weicheng Liu as CEO; Shane McMahon Remains Chairman
NEW YORK, July 12, 2013 /PRNewswire/ — YOU On Demand Holdings, Inc. (NASDAQ: YOD) (“YOU On Demand” or the “Company”), the first national Video On Demand (VOD) platform in China, is pleased to announce that Mr. Weicheng Liu, in conjunction with the recently announced closing of the strategic investment from Chinese mobile video service provider C Media (“C Media”), was appointed as the Company’s Chief Executive Officer. Mr. Shane McMahon, who voluntarily stepped down as CEO of the Company, will continue to serve as YOD’s principal executive officer of and Chairman of the Board.
Commenting on the announcement, Mr. McMahon said, “Weicheng has been instrumental in YOU On Demand’s initial success and has done a wonderful job as the Company’s China-based CEO. As our operations and footprint continue to expand throughout China, it is essential that the role