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Octopus CEO Resigns over Privacy Scandal

DATA PROTECTION—HONG KONG

August 5, 2010

Amid pressure over her handling of a data privacy scandal, the CEO of Octopus Holdings has resigned, The Wall Street Journal  reports. The company last week admitted to selling the personal data of nearly two million customers to third parties. In a statement Wednesday, Prudence Chan said that though she doesn't believe Octopus violated any laws or regulations under her watch, she decided to step down as the company works to regain public trust and confidence. "I believe the current issues could have been better handled and for that, I sincerely apologize to our customers and the community," Chan said. Meanwhile, the government has signaled that it will increase privacy protections. (Registration may be required to access this story.)
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