Newsmaker

Gome chairman resigns

(Xinhua)
Updated: 2011-03-10 09:44

Chen Xiao [Photo / Xinhua]

SHANGHAI - China's largest home appliance retailer Gome said late Wednesday that its chairman Chen Xiao has resigned.

Zhang Dazhong, the founder of Dazhong Electrical Appliances Co, which was acquired by Gome in 2007, will take over as chairman and non-executive director, the electronics giant said in a statement.

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Chen's resignation, effective March 10, will give him more time to spend with his family, according to the statement.

Executive Director Sun Yiding has also resigned but remained as the company's executive vice president, it said.

Chen, 52, was appointed as Gome Chairman on January 16, 2009 shortly after being appointed as Acting Chairman on November 27 of 2008, after former Gome Chairman Huang Guangyu was detained by Beijing police in suspect of illegal business dealings, insider trading and corporate bribery.

Huang had sought Chen's ouster but was voted down by shareholders September last year.