500.com Announces Changes To Board; Chairman Man San Law Steps Down

(RTTNews) - 500.com Ltd (WBAI), an online sports lottery service provider in China, said that effective January 20, 2017, Man San Law, Chairman of the Board of Directors of 500.com and Weiguo Zhao, the chairman of Tsinghua Unigroup Co., Ltd., have stepped down from the board.

Lian Qi has been appointed as a director and chairman of the board, while Bo Yu has been appointed as a director of the board, both effective January 20, 2017.

Qi will join the Compensation Committee as well as join and chair the Strategy Committee of the Board. Yu will join and chair the Compensation Committee and the Nominating and Corporate Governance Committee of the Board.

Effective January 20, 2017, Qian Sun has resigned from the Nominating and Corporate Governance Committee and will join the Strategy Committee. Yu Wei has resigned from the Strategy Committee and will join the Nominating and Corporate Governance Committee.