On November 15, 2019, the Board of Directors of Professional Diversity Network, Inc. appointed Mr. Xin (Adam) He ("Mr. He"), the Chief Financial Officer of the Company, to be the Chief Executive Officer of the Company on an interim basis effective immediately. Also 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 Mr. He to be a director of the Company filling the vacancy created by the resignation of Mr. Maoji (Michael) Wang. Mr. He will not receive any additional compensation for serving as the interim CEO and director of the Company.

Mr. He was a director of the Company between January 2018 and March 2019. He resigned from the Board in March 2019 to become the Chief Financial Officer of the Company.