Wahaha heiress Kelly Zong Fuli back steering Chinese drinks giant after ‘shock’ quit move
Zong is now legal representative, president and general manager, all positions held by her late father and founder of Hangzhou Wahaha Group
She is now the group’s legal representative, president and general manager, taking over all the positions held by her father at Wahaha, whose annual sales stood at 51.2 billion yuan (US$7.2 billion) in 2022.
An SOE run by the Shangcheng district government of Hangzhou, the city in Zhejiang province where the firm is headquartered, remains the largest stakeholder.
The management and personnel reshuffle at Wahaha, a household soft drink brand in China, was closely watched as it involved the succession of the so-called second-generation rich among China’s privately owned companies.
The changes were triggered after the elder Zong died in February, having handed the baton to his only child.