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Lexinfintech shares close lower on Wednesday, company’s CFO Craig Yan Zeng resigns

LexinFintech Holdings Ltd. (LX), a leading online consumption and consumer finance platform in China, said on Wednesday that Craig Yan Zeng had tendered in his resignation as Chief Financial Officer, with effect on June 7th.

Zeng’s resignation came as a result of personal reasons, while he will keep a seat on Lexin’s board of directors.

Meanwhile, Kris Qiao Qian, Lexin’s Chief Financing Cooperation Officer, has been named the company’s acting CFO.

The fintech company also said that it had started searching for a permanent CFO.

“On behalf of the Board, I would like to express our gratitude to Craig for his time, dedication, and valuable contribution to Lexin over the years,” Jay Wenjie Xiao, Lexin’s Chairman and Chief Executive Officer, said in a press release.

“We believe that Lexin will continue to benefit from Craig’s insights and experience as a director and senior consultant of the Company and on behalf of everyone, we wish Craig the best in his future endeavors,” Xiao added.

The shares of Lexinfintech Holdings Ltd closed lower for the third time in the past ten trading sessions on NASDAQ on Wednesday. The stock went down 2.14% ($0.20) to $9.14, after touching an intraday low at $8.99. The latter has been a price level not seen since May 24th ($8.81).

Shares of Lexinfintech Holdings Ltd have risen 36.42% so far this year, following a 51.76% loss in 2020.

Analyst stock price forecast and recommendation

According to CNN Money, at least 9 out of 11 surveyed investment analysts had rated Lexinfintech Holdings Ltd’s stock as “Buy”, while 1 – as “Hold”. The median price target on the stock stands at $15.74.

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