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Sina.com Betrayed Me, Says Ex-CEO

"I feel I've been betrayed," said Wang Zhidong, Sina.com Inc.'s former chief executive officer, president and board director, at a press conference on June 25.

Wang called the conference to deny the company's declaration that he resigned from Sina three weeks ago. Sina officials declined to comment on Wang's statement immediately.

"I have never delivered any kind of resignation or signed any related documents," Wang said. "I was also confused when people told me I was fired."

Wang said the company's decision to depose him is illegal, declining to provide reasons. He said a detailed explanation will be forthcoming after his lawyer completes his review.

"It would be irresponsible and lacking in professional ethics for me to resign when Sina was facing dramatic challenges," Wang said.

Wang, Sina's founder and leader, who holds 5 percent of the company's stock on Nasdaq, said the company's actions were unfair.

"As a major shareholder of the company, I have the right to ask for a reasonable explanation," Wang said. "But there hasn't been any for the whole matter either before or after the announcement of my alleged resignation."

Wang said he is still trying to discuss with the current company leaders a reasonable way out to resolve the issue.

"I have been in contact with the company directors, but I am looking forward to an indepth discussion," Wang said.

Officials of Sina expressed surprise that Wang would call a news conference to air his grievances.

Si Wenmin, the company's public relations official, said company president, Wang Yan, and chief executive officer, Mao Daolin, were not available for comment, but the company may make an announcement today.

(Eastday.com 06/26/2001)

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