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VC-backed DangDang's CFO resigns

  • Alvina Yuen
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Dangdang, the New York-listed Chinese e-commerce company, announced that its CFO Conor Chia-huang Yang is leaving the company for personal reasons.

Yang will remain with Dangdang for a transition period up to three months and the company will commence searching for a new CFO soon.

"Conor has made an important contribution to Dangdang since he joined in March 2010," said Peggy Yu Yu, Dangdang's executive chairwoman. "We thank him for his leadership and dedication to the company. We wish him all the best in his future endeavors."

Dangdang sells more than 710,000 books and other media as well as selected merchandise including beauty and home products. It also operates the dangdang.com marketplace program, which allows third-party merchants to sell their products alongside products sourced by the company.

The e-commerce giant has been backed by a number of venture capital firms including Walden International, Alto Global Investment and Doll Capital Management, which together committed $27 million for its third round of funding in 2006.

The company listed in 2010, raising $272 million. Its share price dropped 15.3% to $8.63 on April 16 following Yang's resignation.

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