Baijiayun CEO Gangjiang Li resigns, Yi Ma to succeed

Baijiayun Group announced changes in its management and board of directors. Gangjiang Li has resigned as a member and chairman of the Board, a member and chairman of the compensation committee of the Board and the CEO of the company for personal reasons, effective from January 22. Ching Chiu has resigned as a director of the company for personal reasons, effective from the same date. Their resignation did not result from any disagreement with the company on any matter relating to the company’s operations, policies or practice. Yi Ma, who currently serves as the president of the company and a director of the Board, has been appointed as the company’s CEO and chairman of the Board to succeed Gangjiang Li, effective from January 22. Qiong Ni, the spouse of Gangjiang Li, and Xin Zhang, who currently serves as the secretary of the Board, have been appointed as new directors to serve on the Board, effective from January 22. Following the foregoing changes, the Board currently consists of five directors, including Yi Ma, Qiong Ni, Xin Zhang, and two independent directors, including Erlu Lin and Chun Liu. In addition, the compensation committee of the Board currently consists of Qiong Ni and Yi Ma, with Qiong Ni as the chairman; and the nominating and corporate governance committee of the Board currently consists of Yi Ma and Xin Zhang, with Yi Ma as the chairman. The composition of the audit committee of the Board remains unchanged, i.e., with Erlu Lin and Chun Liu as members and Erlu Lin as the chairman