Hong Kong's Asia Equity Exchange Group Inc. said Xiangyu Wang resigned June 12 as chairman, CEO and president, effective immediately.

The company appointed Song Gao its new chairman, CEO and president, according to a Form 8-K dated June 15.

Gao has served as vice president of the company since March 13, 2017. Prior to joining the company, Gao was working for Ping An Insurance (Group) Co. of China Ltd.