Perfect World CEO's Step Down

Perfect World CEO's Step Down

Business

23 July 2024 14:26

Perfect World CEO Xiao Hong and co-CEO Lu Xiaoyin have stepped down from their roles following significant layoffs within the company. Senior VP Gu Liming has been appointed as the new chief executive, according to announcements from Perfect World and reports in Chinese media.

Although Hong and Xiaoyin will remain as directors of the company, the specifics of their continued roles have not been detailed further.

More:PGL Partners with Perfect World

This development follows reports from a month earlier indicating that Perfect World had terminated as many as 1,000 employees across multiple offices in Beijing, Shanghai, Chengdu, and other cities. There were also claims that projects like One Punch Man: World and Perfect New World had halted development.

The Chinese gaming market is not performing better than the Western ones. Many companies in China had to lay off staff to balance the books.

Tags: Perfect World

Share:

Sources:

Report mistake Submit news

Related news

View All

CS Asia Championship Announced

Perfect World has unveiled full details for the upcoming CS Asia Championship (CAC) 2025, a high-stakes Counter-Strike 2 tournament scheduled...

More

Aug 01, 2025

Massive Lay Offs at Perfect World

Perfect World, a prominent player in the Chinese gaming industry, has made the headlines in China due to widespread...

Business

Jun 25, 2024

The Fortnite Crew Disney+ Perk Explained

So according to recent reports Disney+ will be available with Fortnite crew. First of all a leaked text string reading...

Business

May 25, 2026

Bungie Is Killing What Works to Save What Flopped

According to rumors, Bungie is about to start another layoff round. It looks like Sony is winding down its proven...

Business

May 22, 2026

Embracer Separates Fellowship Entertainment

Embracer Group announced that the Fellowship Entertainment will be a separate public company. Embracer did this several times before, it's...

Business

May 21, 2026

Perfect World CEO's Step Down

Business

23 July 2024 14:26

Tags: Perfect World

Perfect World CEO Xiao Hong and co-CEO Lu Xiaoyin have stepped down from their roles following significant layoffs within the company. Senior VP Gu Liming has been appointed as the new chief executive, according to announcements from Perfect World and reports in Chinese media.

Although Hong and Xiaoyin will remain as directors of the company, the specifics of their continued roles have not been detailed further.

More:PGL Partners with Perfect World

This development follows reports from a month earlier indicating that Perfect World had terminated as many as 1,000 employees across multiple offices in Beijing, Shanghai, Chengdu, and other cities. There were also claims that projects like One Punch Man: World and Perfect New World had halted development.

The Chinese gaming market is not performing better than the Western ones. Many companies in China had to lay off staff to balance the books.

Share:

Sources:

Report mistake Submit news

Related news

View All

CS Asia Championship Announced

Perfect World has unveiled full details for the upcoming CS Asia Championship (CAC) 2025, a high-stakes Counter-Strike 2 tournament scheduled...

More

Aug 01, 2025

Massive Lay Offs at Perfect World

Perfect World, a prominent player in the Chinese gaming industry, has made the headlines in China due to widespread...

Business

Jun 25, 2024

The Fortnite Crew Disney+ Perk Explained

So according to recent reports Disney+ will be available with Fortnite crew. First of all a leaked text string reading...

Business

May 25, 2026

Bungie Is Killing What Works to Save What Flopped

According to rumors, Bungie is about to start another layoff round. It looks like Sony is winding down its proven...

Business

May 22, 2026

Embracer Separates Fellowship Entertainment

Embracer Group announced that the Fellowship Entertainment will be a separate public company. Embracer did this several times before, it's...

Business

May 21, 2026