Ideanomics Announces Director Changes

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Ideanomics Announces Director Changes

By CFO Tech Outlook | Saturday, December 26, 2020

NEW YORK - Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") today announced that Dr. Bruno Wu will step down as Executive Chairman effective December 31, 2020, and Alf Poor will succeed as Interim-Chairman.

"I will continue to support the company both as a major shareholder and as an advisor," said Dr. Bruno Wu. "For the past five years, I have joined you on a journey that has seen us migrate from a media company into a modern, tech-focused, multi-national company focused on high-growth industries being transformed by innovation. It is at this time that I feel the business has matured to the extent that my significant involvement is no longer required in the same way that it was five years ago. We have built a strong team to govern the business that has embraced my vision and can drive it towards profitable growth. For this reason, I will be resigning from my role as Executive Chairman and moving to an advisory role where I will continue to provide the Company ongoing support in high-level strategic areas where my energy and network of relationships can continue to support Ideanomics' objectives. This is a positive move for the company and its shareholders."

"This change will focus Bruno's energy on strategic aspects of the business and, in particular, on strategic initiatives in our EV business segments. We are grateful for Bruno's energy and vision over the past five years, which has transformed the business," said Alf Poor, Ideanomics CEO. "As we look to 2021, we are well-positioned for growth in North America and Asia, where we have active operations and investments."

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