SOHU.COM INC. (NASDAQ:SOHU) Files An 8-K Results of Operations and Financial Condition
Item2.02
|
Results of Operations and Financial Condition. |
On April24, 2017, the registrant announced its unaudited
financial results for the first quarter ended March31, 2017. A
copy of the press release issued by the registrant regarding the
foregoing is filed herewith as Exhibit 99.1 and is incorporated
herein by reference.
Item5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On April22, 2017, the registrants Board of Directors (the
Board) appointed Mr.Dave De Yang as a member of the Board
to fill a vacancy in the Board and as a member of the Audit
Committee (the Audit Committee) of the Board, effective as
of that date. Mr.Yang has been appointed to the class of
directors whose term will expire at the registrants 2018 annual
meeting of stockholders. Mr.Yang has been a member of the board
of directors and of the audit committee of the registrants
majority-owned subsidiary Changyou.com Limited (NASDAQ: CYOU)
since 2009.
Mr.Yang became a Partner in and the Chief Financial Officer of
Dalton International, a private equity firm based in Chicago, in
2017. From 2012 through 2016, Mr.Yang served as CFO for Reckitt
Benckisers North Asia region, including China, Hong Kong, Taiwan,
Japan and Korea. Prior to joining Reckitt Benckiser, Mr.Yang
worked for McDonalds Corporation as a senior financial director,
including an international assignment as the Corporate Controller
of McDonalds China for three and half years. Prior to that role,
he served as acting controller of McDonalds India and Indonesia
and as a senior director of McDonalds Corporation in the Asia
Pacific, Middle East and Africa division, where he oversaw the
development and supervision of financial strategy and policy.
Prior to joining McDonalds Corporation, Mr.Yang worked in the
U.S. business unit of Ernst Young LLP for seven years in various
positions, including as a group manager. During Mr.Yangs tenure
at Ernst Young LLP, he focused on business risk management
consultation, corporate MA, restructuring of corporate internal
management processes, internal audits, risk assessment, control
system designs, and auditing of corporate financial statements,
primarily for Fortune 500 companies. Mr.Yang has a master of
business administration degree from the City University of New
York, a masters degree in Management and Engineering from the
Graduate School of the Chinese Academy of Sciences in Beijing,
and a bachelors degree in physics from the University of Science
and Technology of China. Mr.Yang is a member of the U.S.
Institute of Certified Internal Auditors, the Institute of
Certified Public Accountants and the Institute of Certified
Management Accountants.
For his service on the registrants Board and Audit Committee,
Mr.Yang will be entitled to receive the same types and amounts of
compensation as the registrant generally awards to non-employee
members of its Board and to members of its Audit Committee.
| Item8.01 | Other Events. |
As previously reported in a Form 8-K filed on August5, 2016, the
registrant notified the Nasdaq Listing Qualifications Department
(the Nasdaq Staff) on August4, 2016 that Mr.Charles Huang
had resigned from the registrants Audit Committee, while
remaining on the registrants Board, and that, as a result, the
Audit Committee had only two members and the registrant no longer
complied with Nasdaq Listing Rule5605(c)(2), which requires
companies with securities listed on Nasdaq to have an audit
committee composed of at least three directors. The registrant
reported in the same Form 8-K that it would rely on the cure
period provided by Nasdaq Listing Rule5605(c)(4), which would
have permitted the single vacancy caused by Mr.Huangs resignation
from the Audit Committee to continue until the earlier of the
registrants next annual meeting of stockholders or August4, 2017.
As disclosed above in Item5.02 of this report, Mr.Dave De Yang
has been appointed to the registrants Audit Committee, effective
April22, 2017, to fill the vacancy created by Mr.Huangs
resignation.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| 99.1 | Press Release dated April24, 2017 |
About SOHU.COM INC. (NASDAQ:SOHU)
Sohu.com Inc. (Sohu) is an online media, search and game service company providing online products and services on personal computers (PCs) and mobile devices in the People’s Republic of China (the PRC). The Company operates through three segments: the Sohu segment; the Sogou segment, and the Changyou segment. Sogou is an online search, client software and mobile Internet product provider in China. Changyou is an online game developer and operator in China as measured by its MMOG Tian Long Ba Bu (TLBB) and its mobile game TLBB three-dimensional (TLBB 3D), and engages primarily in the development, operation and licensing of online games for PCs and mobile devices. The Sohu segment’s main business is the brand advertising business, which offers to users, over its matrices of Chinese language online media, various content, products and services across multiple Internet-enabled devices. SOHU.COM INC. (NASDAQ:SOHU) Recent Trading Information
SOHU.COM INC. (NASDAQ:SOHU) closed its last trading session down -0.79 at 40.04 with 530,614 shares trading hands.
