NEW YORK, February 18, 2022–(BUSINESS WIRE)–Allied Esports Entertainment, Inc. (NASDAQ: AESE) (the "Company"), a global esports entertainment company, today announced that Libing (Claire) Wu has resigned as Chief Executive Officer, effective February 18, 2022. The Company’s Board of Directors ("the Board") also announced the immediate appointment of Lyle Berman, the Company’s co-Chairman, as Interim Chief Executive Officer, and Mr. Berman relinquished his position as President. Mr. Berman has served as a director of the Company since May 2017.
In addition, effective February 18, 2022, the Company also appointed Yinghua Chen, the Company’s Chief Investment Officer, as President and Secretary of the Board, as well. Yinghua Chen has served as a Director of the Company since July 2020. 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.
"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," said Mr. Berman. "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."
Mr. Berman continued, "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."
Board of Directors
On February 18, 2022, Jerry Lewin resigned as a Class C Director of the Company. As such, the Board has appointed Yushi Guo to serve as a Class C Director on the Board effective February 18, 2022.
Mr. Yushi Guo has broad experience in management consulting, board advisory and entrepreneurship. He is the founder and CEO of PanoSoar Management Technology Co., Ltd, a company that builds technological platforms for small and medium-sized businesses. In 2011, Mr. Guo founded Beijing Panorfinity Consulting Co., Ltd., which offers management consulting, board advisory and executive search services. Prior to founding Beijing Panorfinity Consulting Co., Ltd., Mr. Guo served at a client partner at Korn Ferry International from 2009 – 2011 and Gallup Consulting from 2003 – 2009. Mr. Guo currently serves as an independent non-executive director of Ourgame International Holdings Limited. Mr. Guo holds a Master of Science in Ecology and Bachelor of Science from Beijing Forestry University, and Master of Business Administration from Emory University.
About Allied Esports Entertainment
Allied Esports Entertainment (NASDAQ: AESE) is a global esports entertainment venture dedicated to providing transformative live experiences, multiplatform content and interactive services to audiences worldwide. For more information, visit alliedesports.gg.
Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to future results, strategy and plans of Allied Esports Entertainment, Inc. and the World Poker Tour (collectively, the "Companies") (including certain projections and business trends, and statements, which may be identified by the use of the words "plans", "expects" or "does not expect", "estimated", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "projects", "will" or "will be taken", "occur" or "be achieved"). Forward-looking statements are based on the opinions and estimates of management of the Companies as of the date such statements are made, and they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, each Company’s respective revenues and operating performance, general economic conditions, industry trends, legislation or regulatory requirements affecting the business in which it is engaged, management of growth, its business strategy and plans, the result of future financing efforts and its dependence on key personnel, and the ability to retain key personnel. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. These forward-looking statements are made only as of the date hereof, and no Company undertakes any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220217006004/en/
Contacts
Investor Contact:
Lasse Glassen
Addo Investor Relations
[email protected]
424-238-6249
Media Contact:
Brian Fisher
Allied Esports Entertainment
[email protected]
Sony Pictures Television has named kids programming vet Joe D’Ambrosia has been named EVP & General Manager of its Silvergate Media subsidiary. Starting on April 1, D’Ambrosia will be based at the Sony lot in Culver City, CA and also spend time with Silvergate’s teams in New York and London. Sony acquired Silvergate in 2019. […]
One of my favorite hunting grounds for smaller potential deep value plays are "net-nets," or companies trading below net current asset value (NCAV). Twenty years ago I was one of the very few writing about the concept, based on Benjamin Graham's original concept of buying companies below two-thirds of NCAV. Tutor Perini shares are down 33% over the past year, and investors have been skeptical of the stock for years based on valuations.
We’re more than 6 weeks into 2022, and the market uncertainty that characterized January has, if anything, deepened. The sharp drops have turned instead to higher volatility, giving a chart of February’s trading a sawtooth look. The volatility comes as a series of headwinds continue to impact trading sentiment. Stealing the headlines is the Russia-Ukraine situation. Foreign policy pundits are openly speculating on the prospect of war, in the event that Russia invades its neighbor and the US obje
President Biden said late Friday that Putin has decided to invade Ukraine. Apple leads five stocks that don't suck.
Cathie Wood’s flagship ARK Innovation ETF fund is down 30% year to date, and the Twitter consensus shows the CNBC interview didn’t inspire much confidence.
Cathie Wood, the star fund manager and chief executive of ARK Invest, took to CNBC on Thursday to defend ARK's woeful performance over the past year.
(Bloomberg) — The Nasdaq Composite Index tumbled into an ominous “death cross” technical formation Friday for the first time since April 2020, when the pandemic battered the global economy and U.S. equity markets swooned.Most Read from BloombergRussian Media Reports Fire at Gas Pipeline: Ukraine UpdateMorgan Stanley Relationships on Wall Street Snared in ProbeBigger Than Wuhan, H.K. Outbreak Defies Covid Zero PlaybookIndia Protests Against Singapore PM’s Comments on LawmakersThe Housing Boom’s
Investors shouldn't 'bottom-fish' purely based on how low a stock has tanked, says one veteran strategist.
Yahoo Finance Live anchors discuss three stocks making moves on Friday: DraftKings, Alibaba, and Roku.
Since crashing hard after earnings last month, Intel (NASDAQ: INTC) spent much of the last three weeks clawing its way back higher — and even approached its pre-earnings share price last week. All that hard work was undone in a day, however — today, to be precise — when Intel unveiled its "2022 and long-term growth strategy" last night. In its presentation, Intel described how, over the long term, it intends to rebuild its business, first reaccelerating sales growth into the "mid-to-high-single digits" range in 2023 and 2024, then stepping even harder on the gas pedal, and racing ahead to 10% to 12% annual revenue growth by 2026.
Investors seeking income often turn to dividends because of their advantages over bonds and bank deposit accounts. Dividends not only provide consistent cash flow, but they can also allow investors to participate in the appreciation of the asset as well. … Continue reading ? The post How to Build a Dividend Portfolio in 2022 appeared first on SmartAsset Blog.
In this article, we discuss the 10 most shorted stocks right now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Most Shorted Stocks Right Now. The beginning of 2021 had pitted retail investors against hedge funds in a short squeeze saga involving video game firm GameStop and […]
Billionaire investor Charlie Munger reiterated his confidence in Costco even after the stock's record run-up.
Yahoo Finance's Julie Hyman and Brian Sozzi break down Roku's latest earnings results.
The president of Chinese electric vehicle (EV) maker Nio (NYSE: NIO) spoke at a media event this week, giving investors some news about the company's growth plans. As of 2:12 p.m. ET, Nio's American depositary shares were trading down 2.6%. Yesterday, Barron's shared that analyst Soobin Park with Asian investment group CLSA cut her price target on the stock from $60 to $35 but left her rating as a buy.
The Dow Jones retreated as tensions over Ukraine spiked. Tesla stock fell amid comments by CEO Elon Musk. Nvidia stock plunged.
Investor sentiment dimmed following the company's latest earnings release, compounded by several analyst price target cuts. On Friday, these factors drove Fisker's share price down by almost 9%. The latest in a series of Fisker stock price target reductions occurred Friday morning.
How will the stock market respond to a 0.5% interest rate hike? This is how the market has performed during past rate hikes.
(Bloomberg) — The Texas wildcatters that ushered in America’s shale revolution are resisting the temptation to pump more oil as the market rallies, signaling higher gasoline prices for consumers already battered by the worst inflation in a generation. Most Read from BloombergRussian Media Reports Fire at Gas Pipeline: Ukraine UpdateMorgan Stanley Relationships on Wall Street Snared in ProbeBigger Than Wuhan, H.K. Outbreak Defies Covid Zero PlaybookIndia Protests Against Singapore PM’s Comments
After year-to-date net losses in all three major indexes, it’s fair to say that 2022 is not 2021. Last year saw the sustained, long-term gains that keep investors comfortable. That all came to a crashing stop early in the new year. However, while volatility has increased in recent weeks, the sharp losses that characterized January have moderated somewhat in February. There’s a feeling that the markets are starting to price in the chief headwinds – rising inflation and the prospect of Fed rate hi
