Fosun CEO Liang Xinjun Steps Down in a Surprise Reshuffle


By Charlotte Wang , PEdaily.cn

CEO of Fosun Liang Xinjun announced to resign from the management and the board of Fosun due to health reason in a letter to all the staff at 23 pm, March 28. Meanwhile, MD and SVP Ding Guoqi also resigned. Kai Fu Lee, as independent director, has signed a three-year contract with Fosun with annual salary of HK$550 thousand.

 

 

Fosun International (00656.HK) made an announcement that Liang and Ding had confirmed that they did not have disagreements with the board, and they would not hold any posts in the company afterwards. Former Managing Director Wang Qunbin succeeded Liang as CEO and member of compensation committee.

 

 

 

Fosun International also released the results announcement. It showed that the net profitat tributable to shareholders of the parent company was RMB10.27B in 2016, breaking through the mark of RMB10B for the first time, up 27.7% YoY, with a five-year compound growth rate of 24.7%. By 10am, March 29, its share price rose by 0.35% to HK$11.52, and the market cap totaled HK$98.97B.

 

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