Yili Quashes Chairman Probe Rumors, Says He Is in Hospital Overseas

Yili Quashes Chairman Probe Rumors, Says He Is in Hospital Overseas

Liao Shumin

Date: Tue, 04/10/2018 - 14:41 / source:Yicai
Yili Quashes Chairman Probe Rumors, Says He Is in Hospital Overseas
Yili Quashes Chairman Probe Rumors, Says He Is in Hospital Overseas

(Yicai Global) April 10 -- Pan Gang, chairman of China’s largest dairy firm Inner Mongolia Yili Industrial Group Co., is receiving treatment for a heart condition overseas and will be unable to attend the ongoing Boao Forum for Asia, the company said in a statement that quashes rumors he had been taken away as part of a legal investigation.

Pan has been running the company as normal but from a hospital abroad, the company said, saying the 47-year-old is suffering from a narrowed aorta, the main artery in the human body, and was advised by local doctors to seek treatment overseas.

Police have arrested six suspects for disseminating false information that had a negative impact on the firm’s production and management, the company added. These included Beijing-based journalists Zou Guangxiang, who used to work for the 21st Century Business Herald, and Liu Chengkun, who reported for Time Weekly.

The firm had reported a handful of media outlets immediately after they published stories on March 26 suggesting the executive was being investigated, it added, saying that Pan’s treatment abroad was public knowledge.

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Keywords: Inner Mongolia Yili Industrial Group, Pan Gang, Boao Forum