Fashion jewellery firm Artini China has suspended its missing chairman after it tried and failed to contact him over the last 10 days.
In a company filing to the stock exchange last night Artini said it had been unable to contact its founding chairman and chief executive Tse Chiu-kwan.
'Consequently, the board has decided to suspend the duties and revoke any authorisation of Mr Tse to act on behalf of the group until further notice,' it said.
The statement added that Tse's wife, Yip Ying-kam, who is vice-chairwoman and chief operating officer, would take over full management responsibility of the company. Yip co-founded the company with Tse.
'Given that Ms Yip is one of the founders of the group and had also assumed management and operational responsibility recently when Mr Tse went on a leave of absence, the board does not expect this, in itself, to have a material adverse effect on its operations,' the company said.
Tse and Yip co-founded Artini in 1992. The company makes and retails fashion jewellery, accessories, and gift items such as photo frames in Hong Kong and the mainland.
In its latest annual report it said Tse, 48, had more than 21 years of experience in the fashion jewellery industry.