Hello Group Inc. Announces Management Change

Rhea-AI Summary

Hello Group Inc. (NASDAQ: MOMO), a leading mobile social and entertainment platform in China, announced the resignation of CEO Li Wang due to health reasons, effective immediately. Executive Chairman Yan Tang will step in as CEO while Wang continues as an executive director and president to assist in the Company’s core strategies. Hello Group operates platforms like Momo and Tantan, facilitating social interactions and connections.

Positive

• Yan Tang's appointment as CEO may bring stability during a leadership transition.
• Li Wang remains involved as executive director and president, ensuring continuity in strategy.

Negative

• The sudden resignation raises concerns about the company's leadership stability.
• Li Wang's health issues may raise questions about the company's future operational direction.

BEIJING, Oct. 28, 2022 /PRNewswire/ -- Hello Group Inc. (NASDAQ: MOMO) ("Hello Group" or the "Company"), a leading mobile social and entertainment platform in China, today announced that Mr. Li Wang has resigned as the chief executive officer of the Company, because of health reasons, effective immediately. Executive Chairman Mr. Yan Tang has assumed the role of chief executive officer. Mr. Li Wang will remain with Hello Group as an executive director and president of the Company, assisting Mr. Yan Tang in executing the Company's core strategies.

About Hello Group Inc.

We are a leading player in China's online social and entertainment space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates social interactions based on location, interests and a variety of online recreational activities. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application. It is designed to help its users find and establish romantic connections as well as meet interesting people. We also operate a number of other applications to serve different social and entertainment demands from our users.

For investor and media inquiries, please contact:

Hello Group Inc.

Investor Relations
Phone: +86-10-5731-0538
Email: ir@hellogroup.com 

Christensen

In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
E-mail: Eyuan@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com 

 

View original content:https://www.prnewswire.com/news-releases/hello-group-inc-announces-management-change-301662285.html

SOURCE Hello Group Inc.

FAQ

Who is the new CEO of Hello Group (MOMO) as of October 2022?

Yan Tang has been appointed as the new CEO of Hello Group.

Why did Li Wang resign as CEO of Hello Group (MOMO)?

Li Wang resigned due to health reasons.

What will Li Wang's role be after resigning as CEO of Hello Group (MOMO)?

Li Wang will continue as an executive director and president of the Company.

What impact does the management change have on Hello Group (MOMO)?

The management change may impact leadership stability and strategic execution.