Ispire appoints Jay Yu as CFO, cuts $10.2M in annual operating expenses

Ispire Technology Inc.

Former CFO Jim McCormick departed on May 13, 2025; no disclosed disagreement.
Jay Yu, previously VP of Finance since June 2023, appointed as new CFO effective immediately.
Workforce reduction and contractor terminations to cut $3.6M in annual payroll in May 2025.
Company plans additional $6.6M in operating expense cuts over the next three months.
Total annualized expense reduction targeted at $10.2M to drive profitability.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

James Patrick McCormick

Chief Financial Officer

ISPR · Ispire Technology Inc.

Effective: 2025-05-13
Successor: Jie "Jay" Yu
Filed: May 15, 2025, 7:59 PM ET

On May 13, 2025, Mr. James Patrick McCormick’s service to Ispire Technology Inc. (the “Company”) as its Chief Financial Officer ended, as did Mr. McCormick’s employment by the Company.

Appointed

Jie "Jay" Yu

Chief Financial Officer

ISPR · Ispire Technology Inc.

Effective: 2025-05-13
Filed: May 15, 2025, 7:59 PM ET

On May 13, the Board of Directors (the “Board”) of the Company appointed Jie “Jay” Yu as the new Chief Financial Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

James Patrick McCormick departed as Chief Financial Officer at Ispire Technology Inc..

Action: departed
Role: Chief Financial Officer

Exact text from the filing

On May 13, 2025, Mr. James Patrick McCormick’s service to Ispire Technology Inc. (the “Company”) as its Chief Financial Officer ended, as did Mr. McCormick’s employment by the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jie "Jay" Yu was appointed as Chief Financial Officer at Ispire Technology Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On May 13, the Board of Directors (the “Board”) of the Company appointed Jie “Jay” Yu as the new Chief Financial Officer of the Company.

View on SEC.gov

Ispire Technology Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-044269

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