KUKE Music Announces Resignation of President
Rhea-AI Summary
Kuke Music Holding (NYSE: KUKE), a leading classical music service platform in China, announced the resignation of Ms. Li Sun from her position as President, effective July 23, 2024. The company clarified that her departure was not due to any disagreements regarding operations, accounting policies, or practices. Following Ms. Sun's resignation, Mr. He Yu, the company's CEO and Chairman of the board of directors, will continue to lead the organization.
Positive
- None.
Negative
- Departure of key executive (President) could create leadership gap
- Loss of experienced management talent might impact operational continuity
News Market Reaction
On the day this news was published, KUKE gained 7.86%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Beijing, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Kuke Music Holding Limited (“Kuke” or the “Company”) (NYSE: KUKE), a leading classical music service platform in China, today announced that Ms. Li Sun has resigned from her position as President of the Company with effect from July 23, 2024. Ms. Sun’s resignation was not a result of any disagreement between Ms. Sun and the Company on any matter relating to the Company’s operations, accounting policies, or practices.
The Company expresses its sincere gratitude to Ms. Sun for her valuable contribution to the Company during her tenure.
Following Ms. Sun’s departure, Mr. He Yu, Kuke’s Chief Executive Officer and Chairman of its board of directors, will continue to lead the Company.
About Kuke Music Holding Limited (NYSE: KUKE)
Kuke is a leading classical music service platform in China encompassing the entire value chain from content provision to music learning services, with approximately 3 million audio and video music tracks. By collaborating with its strategic global business partner Naxos, the largest independent classical music content provider in the world, the foundation of Kuke’s extensive classical music content library is its unparalleled access to more than 900 top-tier labels and record companies. Leveraging its market leadership in international copyrighted classical music content, Kuke provides highly scalable classical music licensing services to various online music platforms, and classical music subscription services to over 800 universities, libraries and other institutions across China. In addition, it has hosted Beijing Music Festival (“BMF”), the most renowned music festival in China, for 24 consecutive years. Through KUKEY, the Company’s proprietary smart music learning solutions, Kuke aims to democratize music learning via technological innovation, bring fascinating music content and professional music techniques to more students, and continuously improve the efficiency and penetration of music learning in China. For more information about Kuke, please visit https://ir.kuke.com/.
Forward-looking Statements
This announcement contains forward looking statements. These statements are made under 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,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Statements that are not historical facts, including but not limited to statements about Kuke’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including those in Kuke’s registration statement filed with the Securities and Exchange Commission. Further information regarding these and other risks is included in Kuke’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Kuke undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For further information, please contact:
Kuke Music Holding Limited
Investor Relations
Email: ir@kuke.com
FAQ
When did Li Sun resign as President of KUKE Music?
Who will lead KUKE Music after Li Sun's resignation?
Was there any disagreement between Li Sun and KUKE Music leading to her resignation?
What is KUKE Music's main business in China?
