Bing Yuan
About Bing Yuan
Bing Yuan is Playtika’s Lead Independent Director (since November 2022) and has served on the Board since June 2020. He chairs the Nominating & Corporate Governance Committee and sits on both the Audit and Compensation Committees, with prior investment banking and private equity leadership roles at Morgan Stanley Asia and Hony Capital, and currently as co‑founder and Managing Partner of Rockets Capital. Education: BA (English) Nanjing University; MA (International Relations) and JD, Yale University. Age: 55 as disclosed in the 2024 proxy; tenure on Playtika’s board since June 2020 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Morgan Stanley Asia Limited | Managing Director, Investment Banking (then Direct Investment) | 2004–2009 | Capital markets and principal investing experience . |
| Hony Capital | Managing Director | 2009–2021 | Private equity leadership; multiple portfolio directorships . |
| Rockets Capital | Co‑Founder & Managing Partner | Jan 2022–present | Growth investing leadership . |
| PizzaExpress | Director | Aug 2014–Oct 2020 | Board experience at consumer brand . |
| Biosensors International Group | Director | May 2016–Jul 2017 | Governance in med‑tech . |
| Hydoo International Holding | Director | Jul 2011–Sep 2019 | Public company board experience . |
External Roles
| Organization | Role | Public/Private | Committee/Notes |
|---|---|---|---|
| Haichang Ocean Park Holdings Ltd | Director | Public | Current directorship . |
| Four Seasons Education | Director | Public | Current directorship . |
| 17 Education & Technology Group Inc. | Director | Public | Current directorship . |
| I‑Mab (clinical‑stage biopharma) | Director; Audit Committee member | Public (former) | Apr 2020–Dec 2021; audit committee service . |
| Rockets Capital | Co‑Founder & Managing Partner | Private | Since Jan 2022 . |
Board Governance
- Roles: Lead Independent Director; Chair, Nominating & Corporate Governance Committee; Member, Audit Committee; Member, Compensation Committee .
- Independence: Board determined Yuan is independent under SEC and Nasdaq rules .
- Attendance: Board met 7x in 2024; all directors attended ≥75% of Board and committee meetings; similar disclosure in 2023 and 2022 .
- Committee activity: Nominating & Governance Committee (members: Yuan, chair; Beilinson) met twice in FY2024; charters available on investor website .
- Audit expertise: The Audit Committee comprises independent, financially literate directors; prior proxy identifies all members (including Yuan) as “audit committee financial expert” under Item 407(d) Reg S‑K .
- Anti‑hedging/pledging: Company prohibits director hedging, shorting, derivatives, and pledging/margining company stock .
Meetings/Attendance (chronological)
| Year | Board Meetings | Attendance Disclosure |
|---|---|---|
| 2022 | 17 | All directors ≥75% Board and committee attendance . |
| 2023 | 9 | All directors ≥75%; directors did not attend 2023 virtual annual meeting . |
| 2024 | 7 | All directors ≥75%; directors did not attend 2024 virtual annual meeting . |
Fixed Compensation
| Year (Comp’d) | Fees Earned or Paid in Cash ($) | Notes |
|---|---|---|
| 2023 | 395,000 | Board retainer $50,000; plus committee retainers: Audit member $25,000/yr; Nominating member $10,000/yr; Compensation member $10,000/yr; Special Committee chair/member $25,000 per month during service . |
| 2024 | 395,000 | Same structure as 2023: board $50,000; Audit $25,000; Nominating $10,000; Compensation $10,000; Special Committee chair/member $25,000 per month during service . |
| 2021 | 95,000 | Board $50,000; Audit member $25,000; Nominating member $10,000; Compensation member $10,000 . |
| 2020 | 85,000 | Pro‑rated; board retainer and Audit member retainer under 2020 schedule . |
- Special Committee fees: $25,000 per month where applicable; appears in 2023–2024 footnotes for non‑employee directors including Yuan .
Performance Compensation
| Year (Grant) | Stock Awards ($ FV) | Instruments | Quantity | Vesting |
|---|---|---|---|---|
| 2021 | 299,066 | RSUs | 9,259 | Fully vested RSUs granted Feb 2021 . |
| 2022 | 238,850 | RSUs | 15,262 | Fully vested at grant; no outstanding unvested awards YE2022 . |
| 2023 | 255,250 | RSUs | 25,000 | Fully vested at grant; no outstanding unvested awards YE2023 . |
| 2024 | 230,694 | RSUs | 31,776 | Fully vested at grant; no outstanding unvested awards YE2024 . |
- No stock options or PSUs were granted to non‑employee directors; awards are fully vested RSUs at grant (no performance metrics disclosed for director equity) .
Other Directorships & Interlocks
| Company | Relationship to PLTK | Potential Interlock/Overlap |
|---|---|---|
| Haichang Ocean Park Holdings Ltd | Unrelated industry (theme parks) | No PLTK related‑party transactions disclosed with this entity . |
| Four Seasons Education; 17 Education & Technology | Unrelated industry (education) | No PLTK related‑party transactions disclosed with these entities . |
| I‑Mab (former) | Unrelated industry (biopharma) | Former directorship; no PLTK related‑party transactions disclosed . |
Expertise & Qualifications
- Lead Independent Director experience; governance leadership as Nominating & Governance Committee Chair .
- Investment banking and PE background across U.S./Asia (Morgan Stanley Asia; Hony Capital; Rockets Capital) .
- Identified as an “audit committee financial expert” in prior proxy alongside other Audit Committee members, indicating strong financial oversight skills .
- Degrees from Nanjing University (BA) and Yale University (MA IR; JD) .
Equity Ownership
| As of Date | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| Apr 11, 2023 | 49,521 | <1% | Based on 370,643,036 shares outstanding . |
| Apr 17, 2025 | 116,571 | <1% | Based on 375,435,929 shares outstanding . |
- Anti‑hedging/pledging policy applies to directors (hedging and pledging of company stock prohibited) .
- Director stock ownership guidelines: Company discloses guidelines for executives (CEO 6x salary; others 3x) but not for directors; executive‑only guidelines reiterated in successive proxies .
Governance Assessment
- Strengths:
- Independent leadership signal: Lead Independent Director since Nov 2022; chairs Nominating & Governance; on Audit and Compensation—central to oversight of strategy, risk, and pay .
- Financial oversight: Service on Audit Committee; prior designation as audit committee financial expert supports accounting/controls proficiency .
- Engagement: ≥75% attendance threshold met; Nominating & Governance Committee met twice in FY2024, suggesting ongoing governance process attention .
- Alignment: Anti‑hedging/pledging policies reduce misalignment risks .
- Pay and alignment observations:
- Director pay mix: In 2024, cash ($395k) exceeded equity ($230.7k FV) for Yuan; RSUs are fully vested at grant (lower retention/performance linkage vs PSU structures) .
- YoY mix shift: RSU grant value decreased from 2023 ($255.3k) to 2024 ($230.7k) while cash fees remained flat at $395k; equity quantity rose given stock price dynamics (31,776 vs 25,000), but awards remain fully vested .
- Conflicts/related parties:
- Proxies disclose a related‑person policy; 2025 proxy details related‑party employment involving the CEO’s relative and the Equity Plan Stockholders Agreement but does not identify any related‑party transactions involving Mr. Yuan .
- Shareholder feedback:
- Say‑on‑pay support ~85% in 2024, indicating general investor support for compensation practices; Compensation Committee uses an independent consultant (Pearl Meyer) and conducts periodic outreach .
RED FLAGS to monitor
- Fully vested director RSUs (no performance/holding requirements) may weaken long‑term alignment vs deferred or performance‑conditioned equity; however, anti‑hedging/pledging mitigants are in place .
- Concentrated governance environment given controlling stockholder arrangements (e.g., Equity Plan Stockholders Agreement and proxy to controlling affiliate) is a broader governance risk context, not specific to Yuan, but relevant for overall board independence dynamics .
Director Compensation (Detail)
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fees Earned or Paid in Cash ($) | 95,000 | — | 395,000 | 395,000 |
| Stock Awards ($ FV) | 299,066 | 238,850 | 255,250 | 230,694 |
| RSU Quantity (units) | 9,259 | 15,262 | 25,000 | 31,776 |
| Vesting | Fully vested | Fully vested | Fully vested | Fully vested |
Footnotes:
- 2023–2024 cash detail includes board retainer ($50k) plus committee retainers (Audit $25k; Nominating $10k; Compensation $10k) and $25k/month Special Committee fees during service .
Other Directorships & Interlocks (Detail)
| Company | Sector | Role | Period | Notes |
|---|---|---|---|---|
| Haichang Ocean Park Holdings Ltd | Leisure/Theme Parks | Director | Current | Current directorship . |
| Four Seasons Education | Education Services | Director | Current | Current directorship . |
| 17 Education & Technology Group Inc. | EdTech | Director | Current | Current directorship . |
| I‑Mab | Biopharma | Director; Audit Committee | 2020–2021 | Former; audit committee member . |
| PizzaExpress | Restaurants | Director | 2014–2020 | Former directorship . |
| Biosensors International Group | Med‑tech | Director | 2016–2017 | Former directorship . |
| Hydoo International Holding | E‑commerce/Markets | Director | 2011–2019 | Former directorship . |
Related‑Party Exposure
- Policy: Board has a written related‑person transaction policy; Audit Committee reviews for arm’s‑length terms .
- Disclosed transactions: 2025 proxy discloses employment of CEO’s brother‑in‑law and details Equity Plan Stockholders Agreement; no related‑party transactions are identified involving Mr. Yuan in these disclosures .
Say‑on‑Pay & Shareholder Feedback
- Say‑on‑pay: ~85% approval at 2024 Annual Meeting; Committee retained independent consultant (Pearl Meyer) and engaged in outreach to align program with best practices .
Summary Signal for Investors
- Yuan’s combination of independence, audit/financial literacy, and leadership as Lead Independent Director and governance chair supports board effectiveness. Attendance thresholds met and substantive committee roles indicate engagement. No related‑party transactions involving Yuan are disclosed, and anti‑hedging/pledging rules apply; however, fully vested RSU grants to directors and the company’s controlling shareholder arrangements are structural factors to weigh in overall governance risk assessment .