AirNet Technology Inc. Revamps Senior Management As Part of Strategic Growth

AirNet Technology Inc., previously recognized as AirMedia Group Inc. and trading on Nasdaq under the symbol ANTE, has unveiled key developments in its senior management team. This shift comes as the company aims to bolster its leadership capabilities and drive growth strategies forward.

As of December 13, 2024, two prominent figures in the company's leadership, Ms. Fuying Yan and Ms. Tong Lin, have opted to resign from their roles as directors. Their resignations were attributed to personal reasons and were not a result of any disagreements related to the company's operational strategies or policies. Along with their resignations, Ms. Yan will also step down from her position as co-chief executive officer.

In response to these departures, AirNet has swiftly appointed Mr. Yuan Feng as the new co-chief executive officer as well as a director on the Board effective from the same date. Mr. Feng’s extensive background includes a recent role as deputy director of the European and American business department at Huayou New Energy Technology Co., Ltd. from October 2021 to December 2024. His previous experience spans various high-level marketing and management roles at Royal Emirates Investment Authority, where he worked from November 2015 to September 2021. Additionally, he began his career as an English translator at China Central Television. Mr. Feng holds a bachelor's degree in international economics and trade from Xi'an University of Finance and Economics.

Meanwhile, Ms. Yanxiao Zhu has been appointed as an independent director of the Board, bringing with her a robust finance background. From January 2023 to September 2024, Ms. Zhu worked as a finance business partner at Goodman Fielder. Her experience also includes roles as a cost accountant at Fisher and Paykel Healthcare NZ, an assistant finance manager at Oceania Dairy, and a senior costing analyst at Knowles Corporation. She has a bachelor's degree in applied accounting from the University of Oxford Brookes and a postgraduate diploma in professional accounting from Auckland University of Technology.

Mr. Herman Man Guo, chairman of the Board and interim chief financial officer, expressed enthusiasm regarding the new appointments. “I am thrilled to welcome Mr. Yuan Feng and Ms. Yanxiao Zhu to our senior management team. I look forward to our collaboration as we advance our business growth strategies,” he remarked.

These executive changes are expected to bring fresh dynamics to AirNet’s approach in the competitive technology sector and enhance its operational agility. The company is poised to leverage the diverse experiences and insights brought by Feng and Zhu to navigate future challenges and capitalize on market opportunities.

While this announcement marks a pivotal moment for AirNet, as with any forward-looking statement, the actual outcomes might vary due to inherent risks and uncertainties within the business landscape. Stakeholders are advised to monitor the company’s performance and strategic developments as it aligns its goals with the changing market conditions.

In conclusion, the adjustments in leadership could significantly impact AirNet’s performance trajectory as it seeks to fulfill its mission and vision in the evolving technological landscape. The industry will be observing closely as AirNet embarks on this new chapter under its restructured management team.