Wattpad CEO Allen Lau stepping aside, will take on executive adviser role

By: The Canadian Press Posted: 9:15 AM CDT Tuesday, May. 10, 2022

TORONTO - Wattpad Corp.'s founder says he is stepping away from his chief executive officer role about a year after the company was acquired by a South Korean internet conglomerate.

Read this article for free:

or

Already have an account? Log in here »

To continue reading, please subscribe:

*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.

TORONTO - Wattpad Corp.'s founder says he is stepping away from his chief executive officer role about a year after the company was acquired by a South Korean internet conglomerate.

Read unlimited articles for free today:

or

Already have an account? Log in here »

Hey there, time traveller!
This article was published 10/05/2022 (1596 days ago), so information in it may no longer be current.

TORONTO – Wattpad Corp.’s founder says he is stepping away from his chief executive officer role about a year after the company was acquired by a South Korean internet conglomerate.

Allen Lau says in a blog post that he is stepping aside to apply his experience and skills to a new executive adviser role with Wattpad’s new owner Naver.

Lau says he will also remain an investor and board member in the storytelling platform he co-founded in 2006 with Ivan Yuen.

Allen Lau, CEO and co-founder of Wattpad, is seen in an undated handout photo. Wattpad Corp.'s founder says he is stepping away from his chief executive officer role about a year after the company was acquired by a South Korean internet conglomerate. THE CANADIAN PRESS/HO-Wattpad, *MANDATORY CREDIT*

When he announced the US$600-million sale to Naver, Lau said Wattpad’s Canadian identity won’t slip away with him at the helm.

In February, he even unveiled a new “grand plan” for the company, which included a move toward uncovering more monetization opportunities through machine learning and stories that could be made into podcasts or played over Siri and Alexa.

“With the Grand Plan in place, it’s the perfect time to pass the baton to Wattpad President Jeanne Lam and Wattpad Webtoon Studios’ President Aron Levitz in leading the team to achieve the vision,” Lau says, in his blog.

“It’s the final curtain call of my career as a CEO. But I’m not done yet! I’m still at the top of my game. I’m still hungry for more wins. I still want to make an even bigger impact. My new story begins today.”

This report by The Canadian Press was first published May 10, 2022.