DouYu Co-Founder Zhang Wenming Resigns as Director and Co-CEO

DouYu, a game-centric live streaming platform in China, today announced changes to its board of directors and management. Zhang Wenming has tendered his voluntary resignation from his position as a director and co-Chief Executive Officer of the company due to personal reasons, effective as of December 7, 2021.

At the same time, the announcement also shows that Deng Yang has been appointed as a director on the company’s board of directors, effective as of December 7, 2021. In addition, Su Mingming, the company’s director and Chief Strategy Officer, will serve as a member of the Compensation, Nominating and Corporate Governance Committees of the Board, effective as of December 7, 2021.

Zhang Wenming is the co-founder of DouYu. Before he and Chen Shaojie co-founded DouYu in 2014, they also co-founded Shenzhen Zhangmenren Network Technology Co., Ltd. in 2008. As of March 31, 2021, Zhang Wenming held 1.8% of DouYu, while before DouYu went public in 2019, Zhang Wenming held 3.2%.

DouYu released its financial report for the third quarter of 2021 on November 16. The company achieved a total revenue of 2.348 billion yuan in the third quarter, including live-streaming revenue of 2.211 billion yuan. The platform saw its average mobile MAUs in the third quarter increase by 3.9% to 61.9 million from 59.6 million in the same period of 2020. The company’s quarterly average paying user count in the third quarter of 2021 was 7.2million, a record high.

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