Chief's son bounced off board at WHFinance | Eurus Yiu 18 Jun 2021
The WH Group (0288) has fired the son of the chairman's son from his executive job and the board on the grounds of embezzlement of company property.
An announcement was made yesterday that WH Group was removing Wan Hongjian, son of chairman Wan Long, with immediate effect from his executive director and vice president positions.
The announcement included the explanation that Wan was unable to fulfill his duties with the skill, care and diligence required of a director, which was seen in his recent misconduct involving the taking of company property. The board also said his removal would not have a significant adverse impact on group operations.
According to the company ordinance, a director can be removed from office by a notice in writing that is signed by at least three fourths of the directors.