SINA Corporation announced the resignation of Yan Wang as chairman of the board and the appointment of Charles Chao as chairman of the board and Chief Executive Officer of the company effective immediately. The company also announced that it plans to set up a charity foundation and that Mr. Wang will lead the effort. Mr. Wang will remain as a director on the company's board.

Mr. Chao has served as a director and the company's Chief Executive Officer since May 2006. Previously, he served as the company's President since September 2005, as company's Chief Financial Officer from February 2001 to May 2006, as company's Co-Chief Operating Officer from July 2004 to September 2005, as company's Executive Vice President from April 2002 to June 2003 and as company's Vice President, Finance from September 1999 to January 2001.