(Yicai Global) March 16 -- Yunnan Baiyao Group said a senior vice president has stepped down, making her the second member of the top management team at the traditional Chinese medicine maker to depart after its long-time chairman resigned earlier this month.

Wang Jin, who had been a vice president since 2016, left all her posts at the firm, including chief sales officer, for personal reasons, Kunming-based Baiyao announced late yesterday. Zhao Yingming, who mainly worked in the department store sector, will succeed her.

Wang, 52, has a medical background and worked at Baiyao for 31 years, becoming vice general manager in 2009 and chief sales officer last November. Her earnings at the firm totaled CNY10.5 million (USD1.5 million) last year, according to financial data provider Wind Information. 

Former Chairman Wang Minghui also quit for personal reasons after being in post for more than two decades, the company said on March 7. Dong Ming, chief executive and president, is acting chairman before the board appoints a permanent replacement.

As a medicines retailer, Baiyao runs in a similar way to tech firms in terms of its management structure. It made eight senior appointments last November, including chief operating officer, chief innovation officer, chief compliance officer, and chief scientist. 

Shares of Baiyao [SHE: 000538] rose 0.4 percent to CNY54.22 (USD7.86) apiece in Shenzhen today, taking the firm’s market capitalization to CNY97.4 billion (USD14.1 billion).

Editor: Martin Kadiev