Qfin appoints its risk chief as chief executive

Qfin Holdings ($QFIN) appointed Yan Zheng as chief executive and a director, promoting its existing vice president and chief risk officer. The succession puts an executive with extensive credit-risk experience in charge of the company’s financial-technology platform and its relationships with financial-institution partners.

Outgoing chief executive Haisheng Wu is leaving the CEO role, board and compensation committee but will remain with the company to focus on international expansion. The change therefore reallocates leadership responsibilities rather than representing a complete departure from the business. Qfin did not accompany the appointments with revised revenue, profit or credit-performance guidance. The announcement identifies the new management structure, but does not quantify the financial impact of the transition.

Sources:

• Qfin Holdings — management and board changes, corporate release reprinted by StockTitan