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

Rec Room Shuts Down June 1, 2026 as Social VR Platform Fails to Reach Profitability

TL;DR * Rec Room Inc. has announced its social VR platform will close permanently on June 1, 2026, with the...

Business

Apr 02, 2026

Crystal Dynamics Reportedly Developing New Lord of the Rings Game With $100M Abu Dhabi Funding

TL;DR * Crystal Dynamics, the studio behind the Tomb Raider series, is reportedly developing a new The Lord of the...

Business

Apr 01, 2026

Eidos-Montreal Cuts 124 Jobs and Loses Studio Head David Anfossi in Second Round of Layoffs

TL;DR * Eidos-Montréal has announced a workforce reduction of 124 employees, its second round of layoffs in months following December...

Business

Mar 31, 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

Rec Room Shuts Down June 1, 2026 as Social VR Platform Fails to Reach Profitability

TL;DR * Rec Room Inc. has announced its social VR platform will close permanently on June 1, 2026, with the...

Business

Apr 02, 2026

Crystal Dynamics Reportedly Developing New Lord of the Rings Game With $100M Abu Dhabi Funding

TL;DR * Crystal Dynamics, the studio behind the Tomb Raider series, is reportedly developing a new The Lord of the...

Business

Apr 01, 2026

Eidos-Montreal Cuts 124 Jobs and Loses Studio Head David Anfossi in Second Round of Layoffs

TL;DR * Eidos-Montréal has announced a workforce reduction of 124 employees, its second round of layoffs in months following December...

Business

Mar 31, 2026