On November 15, 2019, Professional Diversity Network, Inc. announced that it has appointed Xin (Adam) He (He), the Chief Financial Officer of the Company, to be the Chief Executive Officer of the Company on an interim basis effective immediately. The Company stated that on November 15, 2019, Cosmic Forward Limited (“CFL”), the largest shareholder of the Company, after acquiring 1,142,857 shares of the Company’s common stock from another shareholder of the Company, exercised its right under the stockholders’ agreement between the Company and appointed He to be a director of the Company filling the vacancy created by the resignation of Maoji (Michael) Wang.