Ideanomics CEO Bruno Wu to depart, Brett McGonegal to succeed
Ideanomics announced that Alex Yao is named as chairman of the board and Brett McGonegal has been named the company's CEO. The Ideanomics management team and board met with Bruno Wu to discuss the opportunity of his leading the China-US relations committee. Although Wu will be participating in a non-governmental organization, the level of interaction with government officials means that Wu cannot remain as the chairman and CEO of a U.S. public company. As such, he will be stepping down from his positions at Ideanomics and will concentrate on this highly visible role as an ambassador for the benefit of improved relations between China and the U.S. Wu will remain as special advisor to the board of Ideanomics and will continue his current role as chairman and CEO at Sun Seven Stars', his private, family-held, media and investment company which will remain as the largest shareholder of Ideanomics. Alex Yao is the CEO of Sun Seven Stars' majority controlled fintech and digital finance arm, as well as managing partner of Long March Capital, an investment management and advisory firm focused on mining and infrastructure. Brett McGonegal joined the company in September as co-CEO. He brings operational and financial markets expertise, formerly serving as CEO of Hong-Kong listed investment bank The Reorient Group. Richard Frankel has been appointed executive vice chairman to the board of Ideanomics.