QDM International Inc. (the "Company"), an insurance brokerage services provider, has reported several executive changes effective August 5, 2024. Huili Shen has resigned as a director and Secretary of the Company, citing personal reasons. Her departure does not stem from any disagreements with the Company's operations, policies, or practices.
To fill the vacancy, Jun Du has been appointed as a new director. Du, 39, brings over 15 years of experience in management and operations to the board.
Her background includes roles as a general manager and CEO in various companies, with the latest being at Shanghai Hewu Business Culture Communications Ltd. Du holds a bachelor's degree from Sichuan University and is currently pursuing an EMBA at Tsinghua University. She will receive an annual compensation of $6,000.
Additionally, the Company announced the resignation of Tim Shannon, who served as the Chief Financial Officer (CFO). Similar to Shen, Shannon resigned for personal reasons and without conflicts with the Company.
Wei Li has been appointed as the new CFO and Secretary, bringing over 15 years of accounting and management experience. Li has been a Partner and CFO at Beyond Consultancy Corporation since 2019 and has held significant roles in various companies, including serving as CFO for Hongchang International Co., Ltd. and Heyu Biological Technology Corporation. She holds a bachelor's degree from Queensland University Technology and is a certified public accountant in Australia.
Under the terms of her employment agreement, Li will receive an annual salary of $120,000, which is set to increase to $150,000 upon the Company's listing on The Nasdaq Stock Market LLC. She is also eligible for participation in the Company’s equity incentive plans and other benefits as determined by the Board.
These executive movements are disclosed in accordance with SEC regulations and are meant to ensure a seamless transition of leadership within QDM International Inc. The Company's filings with the SEC provide further details on these changes.
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