AirNet Announces Changes in Senior Management Team

Rhea-AI Summary

AirNet Technology (Nasdaq: ANTE) announced significant changes in its senior management team on December 13, 2024. Ms. Fuying Yan resigned as director and co-chief executive officer, while Ms. Tong Lin stepped down as director, both citing personal reasons with no disagreements with the company's operations or policies.

The company appointed Mr. Yuan Feng as the new co-chief executive officer and director, bringing experience from Huayou New Energy Technology and Royal Emirates Investment Authority. Additionally, Ms. Yanxiao Zhu, with background in finance from companies like Goodman Fielder and Fisher and Paykel Healthcare NZ, joined as an independent director. Following these changes, the Board now consists of five directors, including three independent directors.

News Market Reaction

-0.48%

1 alert

-0.48% News Effect

On the day this news was published, ANTE declined 0.48%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

BEIJING, Dec. 13, 2024 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced changes in its senior management team.

Each of Ms. Fuying Yan and Ms. Tong Lin has tendered resignation as a director of the Company, effective from December 13, 2024. Their resignation was for personal reasons and did not result from any disagreement with the Company on any matter relating to the Company's operations, policies or practice. In addition, Ms. Fuying Yan has also tendered resignation as the co-chief executive officer of the Company for personal reasons, effective from the same date. Mr. Yuan Feng has been appointed as the Company's co-chief executive officer and director of the Board, effective from December 13, 2024. Ms. Yanxiao Zhu has been appointed as an independent director of the Board, effective from the same date. Upon the effectiveness of the above-mentioned changes, the Board will consist of five directors, including three independent directors.

Mr. Yuan Feng had served as a deputy director of European and American business department at Huayou New Energy Technology Co., Ltd. from October 2021 to December 2024. Prior to that, Mr. Feng worked at Royal Emirates Investment Authority from November 2015 to September 2021 as a director of marketing and from November 2011 to October 2015 as an assistant general manager for two subsidiaries of the said authority, respectively. From September 2010 to November 2011, Mr. Feng worked at China Central Television as an English translator. Mr. Feng received a bachelor's degree in international economics and trade from Xi'an University of Finance and Economics in July 2010.

Ms. Yanxiao Zhu had served as a finance business partner at Goodman Fielder from January 2023 to September 2024. Prior to that, Ms. Zhu worked at Fisher and Paykel Healthcare NZ as a cost accountant from July 2019 to October 2022, at Oceania Dairy as an assistant finance manager from October 2017 to September 2018, and at Knowles Corporation as a senior costing analysis from November 2013 to February 2016. Ms. Zhu received a bachelor's degree in applied accounting from University of Oxford Brookes in December 2009, and a postgraduate diploma of professional accounting from Auckland University of Technology in December 2016.

"I am thrilled to welcome Mr. Yuan Feng and Ms. Yanxiao Zhu to our senior management team," commented Mr. Herman Man Guo, the chairman of the Board and interim chief financial officer of the Company. "I look forward to our collaboration as we advance our business growth strategies."

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "is expected to," "anticipates," "aim," "future," "intends," "plans," "believes," "are likely to," "estimates," "may," "should" and similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements are based upon management's current expectations and current market and operating conditions, and involve inherent risks and uncertainties, all of which are difficult to predict and many of which are beyond the Company's control, which may cause its actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

Company Contact

Penny Pei
Investor Relations
AirNet Technology Inc.
Tel: +86-10-8460-8678
Email: penny@ihangmei.com 

View original content:https://www.prnewswire.com/news-releases/airnet-announces-changes-in-senior-management-team-302331113.html

SOURCE AirNet Technology Inc.

FAQ

What management changes did AirNet Technology (ANTE) announce on December 13, 2024?

AirNet announced the resignation of Ms. Fuying Yan as director and co-CEO, Ms. Tong Lin as director, and the appointment of Mr. Yuan Feng as new co-CEO and director, and Ms. Yanxiao Zhu as independent director.

What is the new composition of AirNet's (ANTE) Board of Directors after December 13, 2024?

After the changes, AirNet's Board consists of five directors, including three independent directors.

What is Yuan Feng's professional background before joining AirNet (ANTE)?

Yuan Feng served as deputy director of European and American business at Huayou New Energy Technology (2021-2024), worked at Royal Emirates Investment Authority (2011-2021), and was an English translator at China Central Television (2010-2011).

What is Yanxiao Zhu's professional experience before joining AirNet's (ANTE) board?

Yanxiao Zhu worked as finance business partner at Goodman Fielder (2023-2024), cost accountant at Fisher and Paykel Healthcare NZ (2019-2022), assistant finance manager at Oceania Dairy (2017-2018), and senior costing analyst at Knowles (2013-2016).