Dynasty Wines announced yesterday that its
chairman He Xiuheng and general manager Gao Xiaode had resigned, The Beijing News reports. Their
positions will be filled temporarily by controlling stockholder Tianjin State
Farms Agribusiness general mangager Bai Zhisheng. The stated reason for the
resignations was age; both He and Gao are 61, while Bai, currently an executive
officer of Dynasty, is 50. Dynasty is one of China's top three wine labels,
alongside Changyu and Great Wall. It reported a 19.7% rise in sales, to 24.9
million bottles, in the first half of this year, with profit rising 15.5% to
HK$117 million (US$15.1 million).
Dynasty Wines: 0828.HK
Link:
http://www.thebeijingnews.com/news/2005/1129/05@073547.html