The lift comes after last month's "serious allegations" by then Group CFO Scott Kennedy led to the suspensions.
Companies: BNN Technology
Chinese technology and content services provider BNN Technology (LON: BNN) has said today it will lift its suspension of two of its employees following an investigation by PwC.
The investigation was initiated by the Group after it announced in September then Group CFO Scott Kennedy made "serious allegations" against Group CEO Darren Mercer and China CEO Wei Qi.
The allegations were part of Mr Kennedy's resignation and led to the company's suspension of trading of its shares while PwC investigated.
Whilst no further information was given as to the details of the allegations, the PwC report today has allowed for the lift of suspension of Mr Mercer, although he will stand down as CEO and a member of the Board, and take up a new position as Director of Strategic Partnerships and Business Development.
Wei Qi will resume his previous role as China CEO although he too has stood down as a member of the Board.
The report contained a number of recommended actions for the Group to undertake, which are largely focused around "the remediation of a number of issues connected to corporate governance, culture and compliance".
Commenting on the situation, Chairman of BNN Harry Keiley said:
"The Board was already aware of certain issues and was already in the process of addressing them prior to receiving the allegations referred to in the announcement of 4 September 2017. The PwC Report has only increased the urgency of that process even further."
He also noted shares remain suspended "until the Company has announced its new constituted board and executive management."