Chinese hypermarket giant Sun Art names chairman as CEO after previous chief 'uncontactable'

Reuters03-08

BEIJING, March 8 (Reuters) - Sun Art Retail Group, a major Chinese hypermarket operator, appointed its chairman Julian Juul Wolhardt as chief executive officer after the previous CEO Li Weiping remained "uncontactable" for an extended period.

"Having considered that Ms. Li Weiping has remained uncontactable so far and she has not been able to discharge her duties for an extended period without leave," the board resolved that Li's office as executive director "shall be vacated with immediate effect," the Hong Kong-listed company said in an exchange filing.

Sun Art said last month it was unable to contact Li, who joined the firm in December, adding the matter was not related to its business and operations.

(Reporting by Ethan Wang and Ryan Woo; Editing by Bernadette Baum)

((Ethan.Wang@thomsonreuters.com;))

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