Wu Changjiang CEO of NVC Lighting Dismissed for the Second Time
2014-10-21
Only one year and a half after the reinstatement, Wu Changjiang, CEO of NVC Lighting, got dismissed from the post again.
On August 8, NVC Lighting issued a public notice, announcing that the board had decided to remove Wu Changjiang from the post of CEO for “undue behaviors” and replaced him with Wang Donglei, current Chairman of the board. Three of his deputies were also discharged.
According the announcement, “undue behavior” means the fact that Wu Changjiang signed three license agreements with three different companies on behalf of four sub-companies of NVC Lighting in 2011, while most members of the board didnt know the existence of the agreements until later.
According to insiders, the relationship between Wu Changjiang and Wang Donglei has taken a dramatically bad turn since Wus last reinstatement. “Who is the boss of NVC” is the ultimate flashpoint between them.
As the founder of NVC Lighting, Wu Changjiang was once the absolute authority inside the company. He admitted before that he would never need other board members votes to make an important decision. However, his shareholding rights have been diluted repeatedly since the company went public. More critically, he could not control NVC Lighting all by himself anymore.
杂志排行
中国经贸聚焦·英文版的其它文章
- The Rise and Fall of Foreign Apps
- The Australian misery index hit highest point after 2008
- WANTED for Monopolization
- Zhang Dongsheng Former NDRC Finance Division Director under Investigation
- Nie Chunyu The Disgraced Secretary-general of Shanxi Provincial CPC Committee
- Liu Wen Director of CCTV Documentary Channel under Investigation
