Bruno Wu will step down as executive chairman of Ideanomics on Dec. 31 and Alf Poor will succeed as interim chairman. Wu will assume the role of chairman emeritus, with director Chao Yang also leaving the board for an advisory role. Shane McMahon will continue to serve as Ideanomics’ vice chairman

“I will continue to support the company both as a major shareholder and as an advisor,” Wu said. “For the past five years, I have joined you on a journey that has seen us migrate from a media company into a modern, tech-focused, multinational company focused on high-growth industries being transformed by innovation. It is at this time that I feel the business has matured to the extent that my significant involvement is no longer required in the same way that it was five years ago. We have built a strong team to govern the business that has embraced my vision and can drive it towards profitable growth. For this reason, I will be resigning from my role as executive chairman and moving to an advisory role, where I will continue to provide the company ongoing support in high-level strategic areas where my energy and network of relationships can continue to support Ideanomics’ objectives. This is a positive move for the company and its shareholders.”

“This change will focus Bruno’s energy on strategic aspects of the business and, in particular, on strategic initiatives in our EV business segments. We are grateful for Bruno’s energy and vision over the past five years, which has transformed the business,” Poor, who is also CEO of Ideanomics, said. “As we look to 2021, we are well-positioned for growth in North America and Asia, where we have active operations and investments.”

Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Its Mobile Energy Global (MEG) division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through vehicle procurement, finance and leasing, and energy management solutions under the company’s sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry.