China's appliance chain Gome names acting chairman amid police probe
28/11/2008 16:42
Hong Kong-listed home appliance company Gome said it appointed Chen Xiao
as acting chairman today, a day after Beijing police confirmed that chairman
Huang Guangyu was "under investigation."
Also today, the company said that
its chief financial officer, Zhou Yafei, was under police investigation. It said
it had appointed an acting financial officer.
Gome also set up a "special
operations team" to monitor and assess "the impact of Huang's case on the
company's financial status and operations."
Preliminary internal
investigations haven't found any evidence of embezzlement, said the
report.
Huang, China's home appliance tycoon, is under investigation for
involvement in "economic crimes," said Beijing police yesterday.
Huang, 39,
whose personal wealth is estimated at 43 billion yuan (more than US$6 billion),
is the richest man on the mainland, according to the 2008 Hurun Rich
list.
The appliance chain has 1,300 outlets in more than 300 Chinese cities
with 300,000 employees. Huang is also a real estate investor.
Xinhua
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