Online leisure travel company Tuniu announced that its Board of Directors has authorized a share repurchase program. The company may repurchase up to USD 100 million worth of its ordinary shares or American depositary shares representing ordinary shares over the next 12 months.
In addition, Tuniu announced the promotion of Mr. Shihong Chen from Vice President to Chief Technology Officer, effective immediately. Mr. Chen is currently in charge of the Company´s research and development, website and mobile, and accommodation reservation.
Mr. Chen joined Tuniu in 2011 and was previously the head of the transportation business unit. Prior to joining Tuniu, Mr. Chen was an engineering manager at Trend Micro, a leading provider in enterprise data and cyber security. Mr. Chen received a bachelor´s degree in mechanical engineering from Southeast University in China in 2005.
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