Beijing, CHINA, November 18, 2004 - SOHU.COM Inc. (Nasdaq:
SOHU), China's leading online media, communications, commerce and mobile
value-added services company, today announced that Victor Koo, President and
Chief Operating Officer, will resign from the Company effective March 31, 2005,
to pursue entrepreneurial business opportunities.
Mr. Koo has been with
SOHU since March 1999 in several functions including Senior Vice-President,
Corporate Business Development, Chief Financial Officer, Chief Operating Officer
and President.
“Victor has played an important role in our success in the past six years and
we understand his decision to move on and seek a new challenge. He contributed
greatly to the growth of the advertising business, start-up of new business
lines and the closing of numerous corporate transactions. We wish him the very
best in his future endeavors," said Charles Zhang, SOHU’s chairman and chief
executive officer.
"Victor helped establish a strong team of experienced executives who are
ready to take the helm independently. We have already begun to work on a smooth
transition by splitting Victor’s operational responsibilities among these
executives. Meanwhile, Victor will stay on as an adviser to the company for six
months until September 30, 2005,” Charles Zhang added.
"SOHU has been a fantastic platform for my professional development and I am
grateful for having been part of the SOHU story from an early Internet start-up
to a publicly listed and profitable company. SOHU is a strong company with a
proven online advertising business and great long-term prospects in the search
and consumer business. I am confident that I will leave the business in good
hands that will ensure stability and continuity with our consumers, clients,
partners and employees," said Victor Koo, President and COO of SOHU.
Safe Harbor Statement This announcement contains
forward-looking statements. Statements that are not historical facts, including
statements about our beliefs and expectations, are forward-looking statements.
These statements are based on current plans, estimates and projections, and
therefore you should not place undue reliance on them. Forward-looking
statements involve inherent risks and uncertainties. We caution you that a
number of important factors could cause actual results to differ materially from
those contained in any forward-looking statement. Potential risks and
uncertainties include, but are not limited to, SOHU’s historical and possible
future losses, limited operating history, uncertain regulatory landscape in the
People's Republic of China, fluctuations in quarterly operating results, and the
company's reliance on online advertising sales, wireless services (most wireless
revenues are collected from a few mobile telecom operators) and e-commerce for
its revenues. Further information regarding these and other risks is included in
SOHU's Annual Report on Form 10K for the year ended December 31, 2003, and other
filings with the Securities and Exchange Commission.
About SOHU.com SOHU.com is the leading Internet portal in
Mainland China with current daily page views exceeding 12 million. It provides
navigation/search, news, sports, business and finance, real estate channel,
entertainment, chat, email and e-commerce activities for a solid and wide base
of visitors. Dr. Charles Zhang founded SOHU.com in 1997. Its investors include
Intel, Dow Jones, IDG, the Morningside China Group, PCCW, Legend and Hikari. Its
content partners include CNET, DOW Jones and dozens of local media organizations
in China.
For further information: Dahlia Wei SOHU Investor
Relations and Communications Tel: +86 10 6272 6598 E-mail:
ir@sohu-inc.com
http://www.sohu.com/about/English/ |