17Live’s independent director Chen Xiuling resigns
17LIVE Group Limited's Independent Director, Chen Xiuling, resigned on October 15 after being listed as a Specially Designated National by the US Department of the Treasury. This designation prohibits US persons from doing business with her. The company clarified that Xiuling was only involved in oversight and had no role in daily operations, nor had it conducted any business with her or her associated entities.
This followed her inclusion in the US' list of Specially Designated Nationals.
17LIVE Group Limited’s Independent Director, Chen Xiuling, has voluntarily resigned as director on 15 October.
This comes after she was included in the Specially Designated Nationals List by the US Department of the Treasury's Office of Foreign Assets Control, which includes individuals with whom US persons are prohibited from doing business.
The company said Xiuling has engaged with 17LIVE Group in her oversight capacity only, and is not involved in the company's daily business and operations.
Further, 17LIVE has never done business with Xiuling, the company she works in, DW Capital or the shareholder of DW Capital, Chen Zhi.
