PROFESSIONAL DIVERSITY NETWORK, INC. (NASDAQ:IPDN) 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 November 12, 2019, Mr. Maoji (Michael) Wang (“Mr. Wang”) submitted his resignation from his positions as the Chief Executive Officer and Chairman of the Board of Directors of Professional Diversity Network, Inc. (the “Company”) effective immediately. At a meeting of the Board of Directors (the “Board”) of the Company on November 14, 2019, the Board acknowledged Mr. Wang’s resignation and started the process of looking for a successor.
Mr. Wang served as the Chief Executive Officer of the Company since December 2016 and the Chairman of the Board since March 2019. He attributed his decision to resign to personal reasons and his decision was not due to any disagreement with the Company (as described in Item 5.02(a) of Form 8-K). The Company thanks Mr. Wang for his years of service to the Company.
About PROFESSIONAL DIVERSITY NETWORK, INC. (NASDAQ:IPDN)
Professional Diversity Network, Inc. is an operator of professional networks with a focus on diversity. The Company serves various communities, including Women, Hispanic-Americans, African-Americans, Asian-Americans, Disabled, Military Professionals, and Lesbian, Gay, Bisexual and Transgender (LGBT). The Company’s segments include Professional Diversity Network (PDN Network), which includes online professional networking communities with career resources for the needs of various diverse cultural groups; National Association of Professional Women (NAPW Network), a women-only professional networking organization, and Noble Voice operations (Noble Voice), a career consultation and lead generation service. The Noble Voice call centers qualify callers for real-time job placement. The PDN Network consists of various online professional networking communities dedicated to serving diverse professionals in the United States and employers seeking to hire diverse talent.