Gree Dismisses Reports Suggesting President Dong Mingzhu May Resign as Groundless
Dou Shicong
/SOURCE : Yicai
Gree Dismisses Reports Suggesting President Dong Mingzhu May Resign as Groundless

(Yicai Global) Sept. 28 -- Chinese air-conditioning giant Gree Electric Appliances Inc. of Zhuhai [SHE:000651] has responded to reports that its chair Dong Mingzhu could resign from her position as president next year, saying they are groundless and unverified in a lawyer's letter published on its official Weibo account on Sept. 28.

Securities Daily reported on Sept. 26 that Dong Mingzhu may leave her position as president of Gree at the end of her current tenure in May next year, but remain as company chair.

The firm, headquartered in China's southern Guangdong Province, may internally elect a successor to Dong, and Huang Hui, who serves as executive president, is a likely candidate, the report quoted an insider as saying.

Gree responded further saying it had not provided any relevant information on the matter or accepted any interviews.

The reports, which were widely distributed, attracted great attention, which prompted investors to make inquiries about the situation. This affected the company's normal operations and share price stability, the letter said.

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Keywords: MSCI , Dong Mingzhu , Lawyer's Letter