Hong Kong-based mobile game publisher China Mobile Games and Entertainment Group has confirmed the reassignment of company president Ying Shuling and eight other executives following bribery allegations.
“In order to provide the highest level of transparency to its shareholders, (an) independent committee has been formed to look into and address the market speculations (of bribery) circulating in the market,” said the publisher in a statement. “An external law firm will be appointed to assist the independent committee. The company will announce further update on the results of its independent committee’s investigation.”
Nasdaq-traded CMGE specialises in publishing pre-installed games for iOS and Android devices via the company’s Game Center app and other networks in China. Last fiscal year the publisher reported revenues of US$58 million with US$4.4 million in net income. CMGE distributes over 70 mobile titles and has more than 100 million registered users, according to the company.
