Airnet Technology (ANTE) Stock: Why It Increased 3.07%
- The stock price of Airnet Technology (ANTE) increased by 3.07% in the previous trading session. This is why.
The stock price of Airnet Technology (ANTE) increased by 3.07% in the previous trading session.
Why: AirNet Technology (previously known as AirMedia Group) announced changes in its board of directors and management.
Change in Management: Dan Shao, the spouse of Herman Man Guo, has been appointed as the company’s chief executive officer to replace Mr. Guo, effective from September 9, 2022. Mr. Guo has resigned as chief executive officer of the company for personal reasons, effective from September 9, 2022. And Mr. Guo’s resignation did not result from any disagreement with the company on any matter relating to the Company’s operations, policies or practices. Mr. Guo will continue to serve as the chairman of the Board and interim chief financial officer of the Company.
Ms. Shao’s background: Ms. Shao has served as a managing director of Air Media International (S) Pte Ltd, a company wholly owned by Ms. Shao, and as a managing director of Air Joy Media Private Limited, a subsidiary of AirNet, since December 2013 and November 2019, respectively. And she has served as an executive director of Multiway International Consultancy Pte Ltd. since November 2020 and as a business development director at Elmwood Group Pte Ltd since August 2021. Plus Ms. Shao worked at Shandong Hongzhi Advertising Co. Ltd. from December 2004 to December 2006, and at Sun Television Cybernetworks Enterprise Ltd. from January 2003 to November 2004.
Change in Board of Directors: The Board has also nominated and appointed Ms. Shao as a director of the Board, effective from September 9, 2022. And upon the effectiveness of Ms. Shao’s appointment, the Board will consist of six directors, including three independent directors.
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