The stock of CNFinance Holdings Limited (CNF) gained in the pre-market after the company announced the Board changes in a press release. The stock of CNF was valued at around $4.74 gaining more than 9% from the previously closed value. At the end of the last trading session, the stock closed at $4.35. The volume of the stock traded in the last trading session was around 209.82K shares.
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Reason for the CNF stock gain
CNFinance Holdings Limited (CNF) announced today in a press release about the retirement of Mr. Paul Wolansky from the BoDs, on January 11, 2022. Since 2001, he was serving as a Director of the Company. As soon as he stepped down from his position, the Company appointed a new Director of the Company, Mr. Jun Qian.
In 2001, Mr. Jun Qian joined the Company, and since 2010 then he was serving as the VP of CNFinance. In China’s loan industry, Mr. Qian has over 20 years of experience. For the past 15 years, he has been serving in the Company’s senior management.
The Chairman and CEO of the company, Mr. Bin Zhai paid his gratitude to Mr. Wolansky for his services to the company over the years. He said that Mr. Wolansky has been dedicated to the company and showed extreme professionalism during his time. Also, he welcomed Mr. Qian to the Board of Directors. He said that both of them worked for more than a decade together. His experience and management skills in the industry will be a great asset to the Company.
Effect on the stock
The news of the changes in the Board of CNFinance Holdings Limited (CNF) brought a positive effect on the stock of the company. The new Director of the Board of Directors has extensive experience in the relevant industry and has served the company for years. Investors responded positively to the decision of the company.
Conclusion
The new director of the BoD has the relevant industry experience and is expected to steer the direction of the company more progressively. He is competent and professional, as is expected to implement the vision of the company by continuing the current progress.
