Posted 08 September, 2022
Allied Esports Entertainment, Inc. appointed Yinghua Chen as new CEO
Nasdaq:AESE appointed new Chief Executive Officer Yinghua Chen in a 8-K filed on 08 September, 2022.
On September 6, 2022, the Board of Directors of Allied Esports Entertainment, Inc. (the "Company") appointed Yinghua Chen as Chief Executive Officer.
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Overview of Allied Esports Entertainment, Inc.
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Management Changes On September 6, 2022, the Board of Directors of Allied Esports Entertainment, Inc. (the "Company") appointed Yinghua Chen as Chief Executive Officer. Ms. Chen had previously served as the Company's President, Chief Investment Officer and Board Secretary. Given Ms. Chen's additional responsibilities, Ms. Chen will no longer serve the Company as Chief Investment Officer or Board Secretary, and will continue to serve as President. Ms. Chen assumes the position of Chief Executive Officer from Lyle Berman, who has served as Co-Chairman of the Board and Interim Chief Executive Officer since February 2022. Mr. Berman retains his position as Co-Chairman of the Board, and has been appointed as Vice President, Mergers & Acquisition, where he will be more focused on the Company's acquisition activities. Yinghua Chen has served as a director of the Company since 2020. Ms. Chen has served as the Company's President since February 2022, and served as the Company's Chief Investment Officer from November 2021 until September 6, 2022, and as Board Secretary from February 2022 until September 6, 2022. Ms. Chen is a Co-Founder of Aupera Technologies, a leading video AI technology company, where she is responsible for corporate financing, business development, and strategic partnership. She has successfully raised multiple rounds of funding for Aupera, including from Silicon Valley giant Xilinx (Nasdaq: XLNX). Prior to this, she served as the Executive Vice President of Anthill Resources, a natural resources investment company in Canada, where she oversaw business operations and investment activities. Ms. Chen is also the former Managing Director of China for The Cavendish Group, a UK B2B media and public relations company. In that role, Ms. Chen built up subscriber networks for over ten vertical industry media products and managed the Group's strategic relationship with the Boao Forum for Asia. Ms. Chen was also part of the founding team of The Balloch Group, a boutique investment banking firm, later acquired by Canaccord Genuity, where she specialized in financial, pharmaceutical, resources and media industry transactions. Ms. Chen holds an EMBA from the University of Paris I: Panthéon-Sorbonne and a Bachelor of Arts degree from the University of International Business and Economics. Compensation In connection with the appointments identified above, the Board of Directors updated the annual salary compensation of Ms. Chen and Mr. Berman to $300,000 and $150,000, respectively, taking into account the scope of the services to be provided by each person. A press release announcing the foregoing matters is attached hereto as Exhibit 99.1.
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