ChinaNet Online Holdings, Inc. (NASDAQ:CNET) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 8, 2019, Zhige Zhang resigned as the Chief Financial Officer of ChinaNet Online Holdings, Inc. (the “Company”). Mr. Zhang’s resignation did not result from any disagreement with the Company.
On that same day, Mark Li was appointed as the Company’s new Chief Financial Officer. Mr. Li, age 44, has twenty (20) years of experience working in financial roles. Prior to joining the Company, Mr. Li served as Chief Financial Officer for DMG Entertainment & Media, a global entertainment and media company with operations in North America and Asia. Prior to this role, Mr. Li served as Financial Director at China Digital Culture and in other senior financial management positions. Mr. Li holds a bachelor’s degree in Economics from Chongqing Institute of Industry Management and a master’s degree in Finance from Central University of Finance and Economics. Mr. Li is a member of both the China Institute of Certified Public Accounts (CICPA) and Association of Chartered Certified Accounts (ACCA).
Mr. Li has no family relationships with any of the executive officers or directors of the Company. There have been no transactions in the past two years to which the Company or any of its subsidiaries was or is to be a party, in which Mr. Li had, or will have, a direct or indirect material interest.
About ChinaNet Online Holdings, Inc. (NASDAQ:CNET)
ChinaNet Online Holdings, Inc. is a holding company that conducts its primary businesses through its subsidiaries and operating entities (the variable interest entities (VIEs)). The Company is a business-to-businesses (B2B), integrated Internet technology company providing online-to-offline (O2O) sales channel expansion, precision marketing and the related data services for small and medium-sized enterprises, and entrepreneurial management and networking services for entrepreneurs in the People’s Republic of China. Its segments include Internet advertising and TV advertising. Its services include preparing and publishing media enabled advertising and marketing campaigns for clients on the Internet, mobile phone, television and other communication channels; hosting mini-sites with online messaging and consulting functionalities; providing search engine marketing services; providing data services, and providing social networking and information sharing services to entrepreneurs.
