Allied Esports Entertainment on Friday said Libing (Claire) Wu has resigned as Chief Executive Officer, effective February 18.
The Allied Esports board of directors announced the immediate appointment of Lyle Berman, the company’s co-chairman, as interim Chief Executive Officer.
Berman, who has served as a director of the company since May 2017, relinquished his position as President.
In addition, effective February 18, the company appointed Yinghua Chen, the company’s Chief Investment Officer, as President and Secretary of the Board.
Chen has served as a director of the company since July 2020. According to a statement from Allied Esports, with the newly assumed positions, she will take on a more active role in the company’s operational management, in addition to M&A activities.
Allied Esports made a change to its board of directors, also effective February 18. Jerry Lewin resigned as a Class C director of the company, with the board appointing Yushi Guo to take his place.
The company described Guo as having “broad experience” in management consulting, board advisory and entrepreneurship. He is the founder and CEO of PanoSoar Management Technology, a company that builds technological platforms for small- and medium-sized businesses.
In 2011, Guo founded Beijing Panorfinity Consulting, which offers management consulting, board advisory and executive search services. Prior to that, Guo served as a client partner at Korn Ferry International from 2009 to 2011 and Gallup Consulting from 2003 to 2009.
Guo currently serves as an independent non-executive director of Ourgame International Holdings Limited. Guo holds a Master of Science in Ecology and Bachelor of Science from Beijing Forestry University, and Master of Business Administration from Emory University.
“Over the past several months, we have made substantial progress in our previously stated objective to identify opportunities to invest the cash on our balance sheet to acquire or merge with an existing business,” Berman said in a statement. “Claire has been an important part of this effort. I’d like to thank her for her service to the company and wish her all the best in her future pursuits. I look forward to my expanded role as interim Chief Executive Officer and working closely with Yinghua Chen in our ongoing M&A activities to find the absolute best opportunity available to the company to maximize value for our shareholders.”
