HOUSTON, Sept. 9,
2022 /PRNewswire/ -- AirNet Technology Inc.,
formerly known as AirMedia Group Inc. ("AirNet" or the "Company")
(Nasdaq: ANTE), today announced changes in its board of directors
(the "Board") and management.
Change in Management
Ms. Dan Shao ("Ms. Shao"),
the spouse of Mr. Herman Man Guo
("Mr. 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. 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 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. In addition, 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. 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. Ms. Shao graduated with a bachelor's degree from the
University of International Business and Economic in July 2003 and received a master's degree from
National University of Singapore in
June 2019.
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.
Upon the effectiveness of Ms. Shao's appointment, the
Board will consist of six directors, including three independent
directors.
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.
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SOURCE AirNet Technology Inc.