Yiren Digital Ltd. (YRD) Declared Changes to its Board of Directors and Management Team

Yiren Digital Ltd. (NYSE:YRD) rose 3.96% or 0.19 points on Thursday and made its way into the gainers of the day. Trading volume recorded for this company was about 123.24K shares as compared to its average volume of 185.15K shares. The company has a 52-week high of $17.44. The company has a market cap of $461.72 million and there are 92.53 million shares in outstanding. The 52-week low of the share price is $4.40.

Yiren Digital Ltd. (YRD) broadcasted changes to its governing body and supervisory crew. Mr. Jingsheng Huang, Yiren Digital’s present autonomous executive, will turn into a senior counsel to CreditEase, the Company’s parent organization and controlling investor, and agreeably deal with the new Impact Investment Fund for CreditEase Wealth Management Division. Mr. Huang will stay as a chief of the Board however no longer fill in as a free individual from the Board, including as an individual from all advisory groups of the Board on which he served, successful January 1, 2020. To fill the autonomous executive opportunity, the Board invites the arrangement of Mr. Hao Li as an autonomous executive of the Company and as an individual from the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee of the Board, successful January 1, 2020.

Mr. Li is the originator and director of the leading group of CTG Group, a human asset administrations supplier in China. As a very much respected business visionary, Mr. Li established CTG Group in his mid twenties in 2003 and formed the organization into a main human asset the executives organization in China that has served more than 25,000 corporate customers covering 500 urban communities in the course of recent years.

Mr. Ning Tang, CEO of the Company and Executive Chairman of the Board, remarked, “for the benefit of the Board, I invite Mr. Li to our board. Mr. Li has broad encounters in business tasks and undertaking administrations. We think his joining is profoundly reciprocal to the aptitudes and experience of our current board individuals and expect that he will give important bits of knowledge to our business.”

Likewise, Ms. Joanne Liu has left her job as the Chief Financial Officer of the Company for individual reasons and Mr. Zhong Bi has been selected as the new Chief Financial Officer of the Company, as of now. Mr. Bi joins the Company from HSBC Bank (Singapore) where he filled in as the National Head of Business Finance. As a veteran in worldwide retail banking and riches the board, Mr. Bi had been working for HSBC for a long time, serving different senior positions, including Head of Analytics at HSCB Mexico Retail Banking, Director of Global Retail Products Pricing and Portfolio Management and Business Development at HSBC USA.

“We are satisfied to invite Mr. Bi to Yiren Digital and with his exhaustive involvement with money activity the board and arranging, we accept that he will carry solid budgetary activity skill to the organization,” said Mr. Tang. “We likewise express gratitude toward Joanne for her exceptional work and huge commitments to the organization in the course of recent years. What’s more, we wish her prosperity and joy as she moves to the following section of her life.”

Yiren Digital Ltd., through its subsidiaries, works as an online consumer finance marketplace that connects borrowers and investors primarily in the People’s Republic of China. Over the three months, Yiren Digital Ltd. (NYSE:YRD)’s shares have declined by -29.42% and in the past one year, it has lost -51.83%. Additionally, the stock’s year to date performance has dropped -53.58%. Further, the company is trading at a price to earnings ratio of 1.88 and the stock is at a price to book ratio of 1.11.

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