NetEase.com, Inc. Announces Change in Board Seat
NetEase.com, Inc. (Nasdaq: NTES), a leading Internet technology provider in China, today announced that one of its directors, Mr. Lawrence J. Smith, has resigned effective November 5, 2001 and that the Board has elected Mr. John Yu Leung Lau to fill the vacancy. Mr. Smith was originally nominated and elected to the Board in October 2000 in accordance with the contractual rights of an affiliate of The News Corporation Limited, which is entitled to nominate one director and to cause certain shareholders to vote in favor of that nominee. Mr. Smith resigned from the Board in conjunction with his resignation from his positions with News Corporation and its affiliates.
John Lau is currently Chief Financial Officer of STAR Group Limited, News Corporation's Asian satellite television and multi-media business. He overseas all financial matters of STAR, including corporate accounting, management and financial reporting, internal audits, and treasury and tax functions. He was previously Senior Vice President, Finance at STAR. Prior to joining STAR in December 1998, Mr. Lau was the Chief Financial Officer of San Miguel Brewing International Ltd, with responsibilities covering that company's financial operations throughout Asia-Pacific.
Mr. Lau graduated from Brigham Young University in Utah in August 1988 with a Master's degree in Accountancy and Information Systems and a Bachelor of Science degree in Accounting. He is a current member of the California Institute of Certified Public Accountants.
Commenting on this change, Ted Sun, the company's acting Chief Executive Officer and a director, said, "We thank Mr. Smith for all his hard work on the NetEase.com Board of Directors and wish him well in his future endeavors. We are also pleased to welcome Mr. Lau to the Board."