Hong Kong brokerage firm Guotai Junan International has announced that all attempts to contact Chairman Yim Fung has failed and that he is “unreachable” from November 18. Ever since the news broke, the company’s shares have fallen as much as 17%.
Yim Fung is Guotai Junan International’s Chairman, Executive Director and Chief Executive Officer.
While no further information has been provided as to Fung’s whereabouts, Guotai Junan International has temporarily replaced him from November 23.
“As Dr Yim currently cannot discharge his duties, the board resolved on 22 November 2015 to appoint Ms Qi Haiying, Executive Director and Deputy Chief Executive Officer of the company, to temporarily act as Chairman of the board until further notice
“In addition, the board resolved to appoint Mr Wong Tung Ching, Executive Director and Deputy Chief Executive Officer of the company, to temporarily act as Chief Executive Officer of the company until further notice.”
– The Global Panorama