China developer Guangzhou R&F co-founder Zhang Li resigns as CEO

Reuters2023-12-29

HONG KONG, Dec 29 (Reuters) - Chinese property developer Guangzhou R&F Properties said on Friday that co-founder Zhang Li had resigned as chief executive officer and as a director of the company, citing "other commitments which require more of his time and dedication".

Earlier this year, 70-year old Zhang admitted bribing a former San Francisco official and entered into a deferred prosecution agreement with U.S. prosecutors to avoid criminal charges, according to a court filing.

Under the agreement, the charge will be dismissed in three years if Zhang abides by the terms, including paying restitution.

Zhang was also a co-chairman of the company, along with Li Sze Lim.

The company's statement on Friday did not mention Zhang resigning as co-chairman but he was no longer listed on the company board in a separate filing.

(Reporting by Clare Jim; editing by Jason Neely)

((clare.jim@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2395085426?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-12-29 18:32","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2395085426","market":"sh","top_or_hot":-1,"title":"China developer Guangzhou R&F co-founder Zhang Li resigns as CEO","media":"Reuters","content":"<html><body><p>HONG KONG, Dec 29 (Reuters) - Chinese property developer Guangzhou R&amp;F Properties    said on Friday that co-founder Zhang Li had resigned as chief executive officer and as a director of the company, citing \"other commitments which require more of his time and dedication\".</p><p>   Earlier this year, 70-year old Zhang admitted bribing a former San Francisco official and entered into a deferred prosecution agreement with U.S. prosecutors to avoid criminal charges, according to a court filing.</p><p>   Under the agreement, the charge will be dismissed in three years if Zhang abides by the terms, including paying restitution.</p><p>   Zhang was also a co-chairman of the company, along with Li Sze Lim. </p><p>   The company's statement on Friday did not mention Zhang resigning as co-chairman but he was no longer listed on the company board in a separate filing. </p><p> (Reporting by Clare Jim; editing by Jason Neely)</p><p>((clare.jim@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China developer Guangzhou R&F co-founder Zhang Li resigns as CEO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina developer Guangzhou R&F co-founder Zhang Li resigns as CEO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-29 18:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>HONG KONG, Dec 29 (Reuters) - Chinese property developer Guangzhou R&F Properties    said on Friday that co-founder Zhang Li had resigned as chief executive officer and as a director of the company, ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1240","symbol_name":"房地产开发","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2395085426","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2395085426","pubTimestamp":1703845931,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"HONG KONG, Dec 29  - Chinese property developer Guangzhou R&F Properties    said on Friday that co-founder Zhang Li had resigned as chief executive officer and as a director of the company, citing \"other commitments which require more of his time and dedication\".   Earlier this year, 70-year old Zhang admitted bribing a former San Francisco official and entered into a deferred prosecution agreement with U.S. prosecutors to avoid criminal charges, according to a court filing.   Under the agreement, the charge will be dismissed in three years if Zhang abides by the terms, including paying restitution.   Zhang was also a co-chairman of the company, along with Li Sze Lim.    The company's statement on Friday did not mention Zhang resigning as co-chairman but he was no longer listed on the company board in a separate filing.  ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1240":"房地产开发","BK1555":"内房股","02777":"富力地产"},"translate_title":"中国开发商广州富力联合创始人张丽辞去首席执行官职务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02777":0.9},"content_text":"HONG KONG, Dec 29 (Reuters) - Chinese property developer Guangzhou R&F Properties    said on Friday that co-founder Zhang Li had resigned as chief executive officer and as a director of the company, citing \"other commitments which require more of his time and dedication\".   Earlier this year, 70-year old Zhang admitted bribing a former San Francisco official and entered into a deferred prosecution agreement with U.S. prosecutors to avoid criminal charges, according to a court filing.   Under the agreement, the charge will be dismissed in three years if Zhang abides by the terms, including paying restitution.   Zhang was also a co-chairman of the company, along with Li Sze Lim.    The company's statement on Friday did not mention Zhang resigning as co-chairman but he was no longer listed on the company board in a separate filing.  (Reporting by Clare Jim; editing by Jason Neely)((clare.jim@thomsonreuters.com;))","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2395085426"}