BongkarnThanyakij
- Baijiayun’s (NASDAQ:RTC) has encountered a whirlwind after Gangjiang Li’s sudden resignation as CEO, chairman, and board member, causing the stock to plummet by an astounding 10% in premarket trading on Monday.
- The shockwaves rippled further with the announcement that Yi Ma, the company’s president, was appointed to fill the vacated roles of CEO and chairman.
- Li’s departure, attributed to personal reasons, is set to take effect on Jan. 22, leaving investors apprehensive about the implications of his exit.
- Meanwhile, Ching Chiu’s resignation as a director, also for personal reasons, added to the management turmoil at Baijiayun.
- In a bid to restore equilibrium, the company reassured stakeholders that these resignations were not due to any disagreement on operational, policy, or practice matters.
- As part of the restructuring, Baijiayun appointed Qiong Ni, Li’s spouse, and Xin Zhang, the current secretary of the board, as new directors effective Jan. 22, bringing the total board strength to five members.
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