Fly-E Group appoints Qiang Chen as CEO following Lisa Fan’s resignation

Fly-E Group, Inc. (NASDAQ:FLYE) has announced the resignation of CEO Lisa Fan, effective immediately. The company's stock is currently trading at $1.84 with a market capitalization of $2.95 million, down 88% over the past year. In response to Fan's departure, the board appointed Qiang Chen as the new Chief Executive Officer. Chen, 54, has over 30 years of experience in accounting, finance, and public company management, having previously served as CEO of Zhongbao Financial Consulting and CFO of General Steel Holdings, Inc. Chen's employment agreement sets his annual compensation at $60,000.

Additionally, the board appointed Jingxia Song as an independent Director and member of several committees, with an annual compensation of $26,400. These changes were disclosed in a press release included in the company's SEC filing.

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