iQIYI (IQ) Soars 9.3% on Key Leadership Changes

We recently published 10 Big Names Leaving Wall Street Behind; 7 Are Hitting Record Highs. iQIYI Inc. (NASDAQ:IQ) was one of the worst performers on Wednesday.

iQIYI snapped a five-day losing streak on Wednesday, jumping by as much as 9.3 percent at intra-day trading to hit $2.1 apiece, as investors resorted to bargain-hunting to take advantage of the previous sessions’ dip, while digesting its its search for the next chief finance officer (CFO).

At market close, the stock pared gains to finish just 4.69 percent higher at $2.01 apiece.

This followed the immediate resignation of Jun Wang from his role as the Finance head on Tuesday amid personal reasons. He will be temporarily replaced by incumbent Finance Senior Vice President Ying Zeng while the company conducts an executive search of candidates for the position.

Wang would continue to serve as an advisor to iQIYI Inc. (NASDAQ:IQ) until May 31, 2026 to ensure a smooth transition.

“I am grateful to Jun for his dedicated service. Jun’s expertise and leadership have been instrumental in significantly strengthening our capital structure and establishing a more resilient financial foundation to support future value creation,” said iQIYI Inc. (NASDAQ:IQ) CEO Yu Gong.

Meanwhile, Zeng has been with the company since February 2017 and has served as the SVP for Finance since January 2022.

Prior to iQIYI Inc. (NASDAQ:IQ), she also served as deputy director of budget control and financial analysis at Baidu Inc. between June 2011 and February 2017. From June 2003 to May 2011, she served as a financial manager of eLong, Inc.

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Disclosure: None. This article is originally published at Insider Monkey.