With former GOME chairman Huang Guangyu the subject of a widening police probe, China’s top electronics retailer has appointed former chief executive Xiao Chen as its new chairman. From Reuters:
Gome’s chief executive, Xiao Chen, had been appointed chairman, the company said in a statement to the Hong Kong stock exchange on Sunday.
Chen had been running Gome since Huang vanished in November. The investigation has since widened to include high-ranking officials in the public security bureau, Caijing magazine reported this weekend.
The head of the Ministry of Public Security’s economic investigation bureau, Zheng Xiaodong, had been detained for investigation along with a subordinate, Caijing reported. Zheng is also the top aide to the minister of public security.
