Huang Guangyu’s Farewell Letter
The founder of China’s second largest retailer, GOME, wrote a farewell letter published in Monday’s China Business News, saying he respects China’s courts for their judgment and thanks the government for its help in preserving his company. Mr. Huang also apologized to his family for having caused any suffering and encouraged young entrepreneurs aspiring to succeed in the business world.
Mr. Huang’s missive was intended to be a swan song as he begins a 14-year prison sentence for charges of bribery and corruption, after having lost an attempted appeal. The publication was also timed with his attempt to regain control of GOME. He and the company’s current chairman, Chen Xiao, are in the midst of a bitter power battle, vying to decide the fate of the home appliance retailer.