Retailing, Franchising, and Consumerism Business Intelligence in China

CFO Of Little Sheep Resigns

Chinese hotpot restaurant chain Little Sheep has announced that Wang Daizong, chief financial officer of Little Sheep, has resigned.

Wang previously worked for 3i Asia Pacific plc., which started investments in Little Sheep in 2006. After that, he joined Little Sheep in October 2007.

At the same time, Wang Jianhai, senior vice president of Little Sheep, will take the role of Wang Daizong to be in charge of the financial management of the company. Prior to joining Little Sheep, Wang Jianhai worked as financial manager of Mengniu Tai'an Company.

Though the personnel changes may temporarily bring pressure to Little Sheep's share price, they will not affect the operation the company, said the securities industry. Wang Daizhong's departure was effective from September 30, 2010.

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