TOM Online CEO may resign

Wang Leilei, CEO of the internet portal TOM Online and online auction site Eachnet, may step down in an adjustment to the company's board caused poor performance, China Business Net reported (in Chinese). Neither Wang nor TOM Online have confirmed the report so far. TOM has had difficulties in its core business units, including wireless value-added services, internet portal services and its customer-to-customer transaction platform. The company has already de-listed from the Hong Kong Stock Exchange and NASDAQ in September.