1 Reason NQ Mobile Could Be Surging

Shares of NQ Mobile Inc (ADR) (NYSE: NQ) surged roughly 9 percent on Tuesday morning, just hours after the company sent out an SEC filing disclosing the appointment of a new Chief Financial Officer.

On Monday, Mr. Roland Wu, previously a Director in the company’s Board, was selected to replace Dr. Vincent Wenyong Shi, who will step down from his position as the acting Chief Financial Officer.

Related Link: NQ Mobile Volatile On More Management Turmoil

Mr. Wu will continue to act as a Director in the company’s Board, but will no longer serve as a member of the Compensation Committee of said Board. His place will be taken by Mr. William Li, an independent Director of the Company.

For his part, Dr. Vincent Wenyong Shi will go back to focusing on his roles as Chairman of the Board of Directors and Chief Operating Officer of the company.

The Chairman and COO declared, “We are happy to announce Mr. Roland Wu’s appointment. Roland brings experience and knowledge to help our Company enhance our financial reporting and internal controls, execute growth plans and deliver value for shareholders over time. We are excited about the future and look forward to his excellent service as our chief financial officer.”

NQ Mobile’s CEO Mr. Zemin Xu added, “I am pleased with the organization and the execution of our entire management team right now. We welcome Roland to the management team and we know he will add to our overall performance as we strive to deliver results and achieve our plans for the future.”