Allied Esports Entertainment has announced the departure of chief executive Frank Ng and appointment of replacement Libing (Claire) Wu.
On the day the esports entertainment group completed the sale of its poker assets – including the World Poker Tour – to Element Partners, Allied Esports said Wu will assume the roles of chief executive, president and general counsel.
The New York attorney was previously an independent director on the company’s board and has extensive legal and business experience in cross-border transactions, U.S. securities regulation, mergers and acquisitions, capital market transactions, as well as corporate strategic planning and structuring.
“Claire’s wide-ranging experience and impressive business acumen will be essential to a smooth transition period following the sale of World Poker Tour and for leading the company into a new phase focused on long-term success,” said Lyle Berman, chairman of Allied’s board.
“On behalf of the board, I’d like to thank Frank for his time and service to AESE and wish him the best moving forward.”
Prior to accepting the new position, Wu was the vice president and general counsel of Asia Pacific Capital as well as senior counsel at the New York law firm Davidoff Hutcher & Citron.
Wu said: “I’m honored to accept this position and look forward to working with the Board and management team to drive significant growth and results for our shareholders and partners alike.”
The WPT deal is worth $105m and includes 100% of the outstanding capital stock of each of the legal entities connected to Allied Esports’ poker-related assets.