Ocean Capital Acquisition Corporation filed a current report on November 3, 2026, disclosing the resignations of its Chief Executive Officer and an independent director on October 30, 2026, and the subsequent appointments of a new Chief Executive Officer and a new independent director effective November 2, 2026.

Key Highlights

  • CEO resignation: Mr. Kin (Stephen) Sze resigned as Chief Executive Officer, Chairman of the Board, and a director, effective October 30, 2026, with the company stating the resignation "did not result from any disagreement with the Company on any matter relating to the Company's operations, policies or practices."
  • Director resignation: Dr. Pok Yu (Augustine) Chow resigned as an independent director and as a member of the Audit Committee, the Corporate Governance and Nominating Committee, and the Compensation Committee, effective October 30, 2026.
  • New CEO appointed: Ms. Yiyan Li was appointed Chief Executive Officer, Chairman of the Board, and a director, effective November 2, 2026, and will also serve as principal financial officer until a Chief Financial Officer is appointed.
  • New independent director appointed: Mr. Stephen J. Posner was appointed as an independent director and member of the Audit Committee, the Corporate Governance and Nominating Committee, and the Compensation Committee, effective November 2, 2026.
  • Ms. Li's background: According to the filing, Ms. Li has experience in investment, business consulting, and cross-border e-commerce, and served as a business operations consultant at Shanghai Chongjing Enterprise Management Consulting Service Center from 2020 to 2024.
  • Mr. Posner's background: The filing states Mr. Posner has approximately 50 years of experience in financial markets and has served as the owner of SJP Consultants since 2014.

Leadership Transition at Ocean Capital Acquisition Corporation

Ocean Capital Acquisition Corporation (NYSE:OCAC), a British Virgin Islands incorporated blank-check company, disclosed a complete change in its chief executive and board leadership in a filing dated November 3, 2026. Two departures and two appointments were reported under Item 5.02, all taking effect within a three-day window at the end of October and the start of November 2026.

Mr. Kin (Stephen) Sze stepped down from all roles on October 30, 2026. Simultaneously, Dr. Pok Yu (Augustine) Chow departed as an independent director, vacating seats on all three board committees. The company attributed neither resignation to any disagreement over "operations, policies or practices," according to the filing. On November 2, 2026, the Board moved to fill the vacancies: Ms. Yiyan Li assumed the CEO, Chairman, and director roles and will additionally act as principal financial officer in the interim period before a permanent Chief Financial Officer is named.

Mr. Stephen J. Posner joined the Board as the replacement independent director, taking committee seats on the Audit Committee, the Corporate Governance and Nominating Committee, and the Compensation Committee. The filing notes no arrangements, family relationships, or Item 404(a) transactions for either incoming officer or director. Agreements between the company and each of Ms. Li and Mr. Posner, both dated November 2, 2026, were attached as exhibits 10.1 and 10.2 respectively.

What Was Disclosed

The filing reported the October 30, 2026 resignations of the CEO/Chairman and an independent director, followed by the November 2, 2026 appointments of Ms. Yiyan Li as CEO, Chairman, and interim principal financial officer, and Mr. Stephen J. Posner as independent director and committee member.