HNA Group appoints Chen Feng as chairman, elevating the co-founder to top role following tragic death of Wang Jian
Chen Feng will take the helm of the Chinese conglomerate, a role that he had formerly shared with Wang Jian, who died in a tragic accident in France earlier this week. Wang’s equity in HNA expected to revert to controlling charities
Chinese conglomerate HNA Group has announced that co-founder Chen Feng will become chairman of the company, assuming the duties of former co-chairman Wang Jian, who died earlier this week during a trip to France after falling 15 metres onto rocks in an accident.
Chen, who held the post of co-chairman along with Wang, was appointed by the board after a meeting on Thursday, the company said in a statement on Friday.
HNA didn’t provide further details on Friday about how to deal with Wang’s equity stake in the company after his death, although the company said in a statement last year Wang has “pledged to donate all of his shares … upon resignation or death” to the two charitable organisations that currently control HNA.
Wang was one of the largest shareholders of the company, holding a 15 per cent stake. The 57-year-old died from injuries earlier this week in the village of Bonnieux in the Provence region, according to local police.
Wang fell 15 metres onto rocks after climbing onto a “small wall” for a photograph before losing balance, the police said.
HNA Group, co-founded by Chen and Wang in 1993 in Hainan, is one of the fastest growing companies on Fortune’s Global 500 list of the world’s largest corporations. It has aggressively pushed into overseas markets in recent years, snapping up about US$40 billion worth of properties, hotels, and stakes in financial companies.