Imprisoned founder of Bain-backed GOME fails to eject CEO
Jailed founder of GOME Electrical Appliances Holdings Ltd., Huang Guangyu, failed to receive investor support to both oust GOME's current chairman, Chen Xiao, and bring his sister and lawyer on as directors, thwarting his attempt to regain status in the company.
At yesterday’s general meeting, nearly 52% of shareholders voted against Huang's proposal. Once considered one of China’s richest businessmen, Huang now takes on the title of criminal and is serving...
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