Ray Chan, co-founder and CEO of online entertainment platform 9GAG, has taken control of IoT data transmission firm Howkingtech International (HKG:2440), becoming its chairman and CEO.
Chan's investment vehicle, Home Office Development, carried out the buyout by acquiring the majority stake of outgoing boss Chen Ping, who resigned along with six directors on April 1.
A Tuesday Hong Kong Exchange filing revealed the management shakeup, which also sees Chris Chan, Ray Chan's brother and 9GAG's chief product officer, assuming a similar role at Howkingtech.
Kevin Kwong, 9GAG's chief business officer, will take on the same role at the IoT firm.
To expand the leadership team further, Alex Lee, former deputy chief of staff at OSL Group (HKG:0863), will be appointed Howkingtech's chief investment officer.
In a separate filing, Howkingtech revealed plans to change its corporate name to MemeStrategy, Inc., to signal its foray into Web3 and artificial intelligence.
Shares of Howkingtech rose nearly 4% in Wednesday's late afternoon trade.
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