GSTechnologies Limited (LSE: GST), the fintech and information technology solutions company, is pleased to announce the appointment of Mr Bai GuoJin ("Jack Bai"), an existing Executive Director, as the Company's new Chief Executive Officer with immediate effect.
Jack Bai, who joined the GST board in January 2021, has over 30 years' experience in software development for the financial and telecommunication industries. He is a successful technology entrepreneur, who has successfully built and exited multiple companies, including in fintech and payment solutions. He is a co-founder of Wise MPay, the Company's collaboration partner, and leads the development of the Coalculus blockchain technology. Since joining GST he has been leading the Group's blockchain technology activities and its plans to launch a borderless neobanking platform providing next-generation digital money solutions.
Tone Goh, Chairman of GST, commented: "We are very pleased to announce that Jack Bai has been appointed as GST's new CEO. Jack has been leading our blockchain technology activities since his appointment at the beginning of the year and we believe it is the opportune time to appoint him to the role of CEO to take GST to the next level of growth and development.
"We have made significant further progress with our fintech plans since the announcement of the fundraising at the beginning of September. We are focused on both completing the recently announced acquisition of Angra and establishing a significant business from the stablecoin network and applications that we are developing from our collaboration with Wise MPay."
Tone Goh, Executive Chairman
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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.