Quhuo Announces Changes to Board of Directors

Rhea-AI Summary

Quhuo Limited (NASDAQ: QH) announced the resignation of Mr. Shuyi Yang from his role as vice president and board member, effective March 15 and June 1, 2021, respectively. His departure was not due to any disagreement regarding the company's operations or financial aspects. Ms. Wenting Ji, the current CFO, has been appointed to the board, effective June 1. Chairman Leslie Yu thanked Mr. Yang for his contributions and wished him success in future endeavors.

Positive

• Appointment of Ms. Wenting Ji as a director may strengthen leadership with fresh perspectives.

Negative

• Resignation of Mr. Shuyi Yang could raise concerns about continuity in leadership.

BEIJING, June 01, 2021 (GLOBE NEWSWIRE) -- Quhuo Limited (NASDAQ: QH) (“Quhuo,” the “Company,” “we” or “our”), a leading tech-enabled workforce operational solution platform in China, today announced that Mr. Shuyi Yang has resigned from his position as a vice president and as a member of the board of directors (the “Board”), effective on March 15 and June 1, 2021, respectively. The resignation of Mr. Yang did not result from any disagreement with the Company on any matter relating to the Company’s business operations, financial reporting or controls, policies or practices. Ms. Wenting Ji, the chief financial officer of Quhuo, has been appointed as a director of the Board, effective on June 1, 2021.

Leslie Yu, Chairman and Chief Executive Officer of Quhuo, commented, “On behalf of the Board, I would like to express my sincere gratitude to Mr. Yang for his valuable contributions to Quhuo. We wish him continued success in his future endeavors.”

ABOUT QUHUO LIMITED

Quhuo Limited (NASDAQ: QH) is a leading workforce operational solution platform in China. Quhuo provides tech-enabled, end-to-end operational solutions to blue-chip on-demand consumer service businesses in industries with significant e-commerce exposure, including food delivery, ride-hailing, housekeeping and bike-sharing. Quhuo’s platform helps its industry customers mobilize a large team of workers and utilizes a combination of training, performance monitoring and refinement, and incentives to transform them into skilled workers who can follow industry-specific, standardized and highly efficient service procedures. Within the on-demand consumer service ecosystem, the Company plays a unique and indispensable role as the link between consumer service businesses and the end consumers to enable the delivery of goods, services and experiences to consumers.

For more information about Quhuo, please visit https://ir.quhuo.cn/.

CONTACTS:

Investor Relations
Quhuo Limited
Annia Sun
E-mail: ir@meishisong.cn

Christensen
In China
Mr. Eric Yuan
Phone: +86-13801110739
E-mail: Eyuan@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: lbergkamp@christensenir.com

FAQ

When did Mr. Shuyi Yang resign from Quhuo Limited?

Mr. Shuyi Yang resigned from his position as vice president effective March 15, 2021, and from the board of directors effective June 1, 2021.

Who has been appointed to the board of Quhuo Limited after Mr. Yang's resignation?

Ms. Wenting Ji, the chief financial officer, has been appointed as a director of the board effective June 1, 2021.

What were the reasons behind Mr. Shuyi Yang's resignation from Quhuo Limited?

Mr. Yang's resignation did not result from any disagreements with the company regarding its business operations or financial reporting.

What impact might the management change have on Quhuo Limited?

The appointment of Ms. Wenting Ji could bring new perspectives to the board, although concerns about leadership continuity may arise from Mr. Yang's departure.