China's HNA Group says co-founder to become sole chairman

[HONG KONG] Chinese conglomerate HNA Group said on Friday co-founder Chen Feng will become its sole chairman after co-chairman Wang Jian died during a business trip in France this week.

Mr Wang, regarded as the architect of US$50 billion acquisition spree, died on July 3 in what local police said appeared to be an accidental fall from a wall while posing for a photograph.

HNA said in a statement that the group's board had decided that Mr Chen would assume the duties of Mr Wang. Adam Tan will continue to serve as chief executive officer, it said.

REUTERS