Specials
Biz people of August
(chinadaily.com.cn)
Updated: 2010-08-31 16:45
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Huang Guangyu in battle to control his retail empire
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Huang Guangyu |
Huang Guangyu, founder and former chairman of electronics retailer Gome Electrical Appliances Holdings Ltd, has been under the spotlight this month as Gome's long-term power struggle intensified into a boardroom tussle.
Huang, once the richest man in China, was jailed earlier this year for bribery and insider trading.
Gome sued Huang at HK's High Court on August 5 for Huang's alleged breach of fiduciary duties in early 2008 as a former board director. Then Huang, who remains Gome's biggest shareholder, fought back, calling for the removal of current chairman Chen Xiao.
The drama is expected to come to a conclusion on September 28 at a special shareholder meeting, and the two sides are actively gaining more support from investors.
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