Following an 18 percent decline in first-half profit for the WH Group and subsidiary Shuanghui International, quoted on the Hong Kong Exchange, Wan Hong Jian, the son of the founder and Chairman resigned as Deputy Chairman and Vice President. Following his June resignation or dismissal from the company over allegations of “misconduct and aggressive behavior against the company’s p
roperties”, Wang Hong Jian published a series of allegations implicating his father Wan Long and former CFO Guo Lijun of illegal financial actions and tax evasion.
Following a restructuring of corporate management, Wan Hong Gwei, a younger son of Wan Long was appointed Executive Director and Deputy Chairman replacing his brother and Guo Lijun was named CEO. Wan Long relinquished his role as CEO and is now Executive Director and Chairman of the group that owns Smithfield Foods of the U.S.