Shares of WhiteFiber Inc. (NASDAQ:WYFI) are trading higher Monday afternoon following a corporate leadership update. Here’s what investors need to know.
- WhiteFiber shares are climbing with conviction. What’s behind WYFI gains?
Leadership Departure and Transition Details
The company announced in a regulatory filing that Chief Financial Officer Erke Huang notified the Board of Directors on July 30 of his decision to resign effective August 1. Mr. Huang also stepped down from his director role but will remain with the company as a Senior Advisor and non-voting board observer.
WhiteFiber confirmed the executive shift did not stem from any operational or financial disagreement. Mr. Huang will also retain his separate position as CFO of Bit Digital.
Succeeding him as CFO, Principal Financial Officer, and Principal Accounting Officer is 45-year-old Justin Zhu, effective August 1. To accept the executive position at WhiteFiber, Mr. Zhu officially resigned from his previous roles at Bit Digital.
WYFI Shares Surge Monday Afternoon
WYFI Price Action: WhiteFiber shares were up 8.73% at $25.77 at the time of publication on Monday, according to Benzinga Pro data.
Image: Shutterstock
Login to comment