Aoxin Q&M suspends former CEO as part of whistle-blowing investigation
The move follows Dr Shao’s resignation on Jul 22 after a whistle-blower report against him was sent to company’s audit committee
[SINGAPORE] Aoxin Q&M announced that it has placed former chief executive officer Shao Yongxin under suspension to facilitate its whistle-blowing investigation, in a bourse filing on Thursday (Jul 31).
Dr Shao is in the midst of relinquishing all his duties, including his directorships in subsidiary companies in Aoxin Q&M. General manager Bai Yi and deputy general manager Huang Zhengxing will lead the business operations in the interim.
This move comes after Dr Shao resigned on Jul 22 after a whistle-blower report against him was sent to Aoxin Q&M’s audit committee.
Shares of Aoxin Q&M closed 2 per cent or S$0.001 lower at S$0.048 on Thursday.
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