SkyPeople Fruit Juice chairman returns to CEO role
SkyPeople Fruit Juice has reappointed its chairman Xue Yongke as CEO almost two years after he first stepped down.
Xue, who served as CEO at the fruit-juice concentrates producer from 2008 to February 2013, replaces his brother Xue Hongke, SkyPeople said on Monday. Xue Yongke will continue as chairman while Xue Hongke remains on the group's board of directors.
SkyPeople did not give a reason for Xue Hongke's departure but said it was not a result of any disagreement with the company or its management. The move mirrored the CEO switch in 2013 when Xue Hongke replaced his brother.
The changes were effective from 24 December.
In Q3 results released in November, SkyPeople saw profits fall 32% despite a rise in sales.
The group this week also announced the resignation of board members Norman Ko and John Smagula. Meanwhile, Johnson Lau, the CFO of electronics firms SGOCO Group, has joined Sky People's board.
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