This change in leadership is the second leg of a plan to split off the internet/mobile portion of advertising and release value. Expect announcement of the split after the board meeting. This will provide momentum for both halfs of the new company. Price is reflecting the rotation into cash and not the expectations for the growth.
CTRP just reported a blowout quarter, stock dropped anyway. Doesn't matter why FMCN is reshuffling management now, hedge funds are facing margin calls now, they have to pay higher interest rates and put up more collaterals. You need money to buy anything.