UPDATE: NQ Mobile Announces CFO KB Teo Has Resigned, Cites Family Reasons
NQ Mobile Inc. ("NQ Mobile" or the "Company") (NYSE: NQ), a leading global provider of mobile Internet services, today announced certain changes to its management team.
KB Teo, Chief Financial Officer of the Company, has resigned from his position for family reasons effective Friday, August 22, 2014. Dr. Vincent Wenyong Shi, Co-Founder and Chief Operating Officer of the Company, will take over as Acting Chief Financial Officer until a suitable replacement is found.
The Company noted that Mr. Teo's departure is not related to the Company's operations, policies, or accounting practices and is due to family reasons. The Company values the contributions made by Mr. Teo during his tenure with the Company.
"I would like to thank KB on behalf of the Board of Directors and management team for his service over the past year," commented Dr. Henry Lin, Chairman and Co-Chief Executive Officer of NQ Mobile. "He has been very supportive of the Company and we wish him well."
The Company remains fully confident in all of its previously reported financials and filings as to their accuracy and does not expect any material changes.
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