IPDN CFO Yiran Gu takes over as CEO after Xun Wu term ends

The Board of Directors at Professional Diversity Network, Inc. (Nasdaq: IPDN) appointed Yiran Gu as Chief Executive Officer on October 1, 2026, effective the following day. This move followed the board's determination not to renew the appointment of Xun Wu, whose term as CEO expired on July 22, 2026. The company stated that Wu's cessation of service was not due to any disagreement with the company regarding its operations, policies, or practices.

Gu, 37, will continue to serve as Chief Financial Officer while holding the CEO role until a successor is appointed or the board determines otherwise. She has served as CFO since August 2025 and previously held the position of director and chief strategy officer at Koala Malta Limited from July 2021 to August 2025. The filing notes there are no arrangements or understandings between Gu and any other person regarding her appointment, and she has no family relationships with any director or executive officer.

On October 2, 2026, the company entered into a new Employment Agreement with Gu following approval by the Compensation Committee. The agreement, effective October 2, 2026, governs her service in both the CEO and CFO offices and has a term of 12 months unless earlier terminated. Under the terms, Gu is entitled to aggregate annual base compensation of $300,000 for her dual roles.

The base compensation may be paid in cash, shares of the company's common stock with equivalent fair market value, or a combination of both, as determined and approved by the Compensation Committee subject to applicable law and listing rules. Any portion paid in shares will be valued as of the applicable grant or issuance date or pursuant to another approved valuation methodology. The company may terminate the agreement for cause, upon death or disability, or without cause. Gu may terminate her employment upon written notice, including in the event of a material reduction in her authority, duties, responsibilities, or annual compensation.

The Employment Agreement includes provisions covering confidentiality, non-disclosure, conflicts of interest, and non-solicitation. It supersedes the previous employment agreement dated August 8, 2025, except for separate indemnification agreements or equity award agreements expressly intended to survive. The full text of the Employment Agreement is filed as Exhibit 10.1 to the Current Report on Form 8-K.