China Mobile Games and Entertainment Group Limited (“CMGE” or the “Company”) CMGE, the largest publisher and a leading developer of mobile games in China, announced that effective today, Mr. Shuling Ying has been appointed as our new chief operating officer (“COO”).

Mr. Ying’s primary responsibility will be to supervise our mobile game publishing business for third party content providers. Mr. Ying previously served as our President from October 2013 to June 2014 and has extensive experience in the licensing, publishing, operation and marketing of mobile games and helping to manage our publishing business. Prior to joining our company, Mr. Ying had worked at the Shanghai branch of Standard Chartered Bank. Our previous COO, Mr. Hu Zhenyu, has been appointed as our Senior Vice President, effective today. Mr. Hu’s primary responsibilities will be in our self-developed games division as well as assisting in the integration of all investment activities.

In addition, the Company has been informed that Mr. Ying and Mr. Ken Jian Xiao, our CEO and Director, intend to individually purchase RMB10 million each of the Company’s American Depositary Shares (“ADSs”). The Company has been informed that the repurchases will be made in the open market at prevailing market prices or through privately negotiated transactions. The timing and extent of any purchases will be determined by Mr. Ying and Mr. Xiao and may depend upon market conditions, the trading price of ADS and other factors. Mr. Xiao and Mr. Ying have informed the Company that the share repurchases will be completed within two months of this press release and will be financed with their own personal funds.

CEO Mr. Xiao commented, “Management share purchases reflect the confidence that we have in CMGE’s future and our ability to drive long-term growth.”

Source: http://www.marketwatch.com/story/cmge-announces-appointment-of-new-chief-operating-officer-and-management-share-repurchase-2014-08-18?reflink=MW_news_stmp