The Chinese electronics retailer Gome Electrical Appliance reports that Huang Guangyu has resigned his positions as director and chairman of the board of directors of Gome and is replaced by Gome's current executive president Chen Xiao.
At the same time, Gome has re-appointed Wei Liqiu as executive director of the company, with effect from January 16, 2009.
Prior to this, the board of directors of Gome had suspended Huang's executive duties, because Huang was under investigation and unable to perform his duties. However, Gome says this did not affect the company's management, operation or business.
Following this, Huang has entrusted Wei Liqiu and Wang Junzhou as his representatives to sign Gome's documents and those related to his private businesses.