Wang will be vacating his Huayi Tencent roles as executive director and chairman of the board, as well as his positions as both chairman and member of the company’s nomination and corporate governance committees. The company said there are “no disagreements” between Wang and the rest of its board of directors.
Yuen Hoi Po, Huayi Tencent’s CEO and executive director, will temporary assume Wang’s responsibilities. A new chairman will be elected “as soon as possible” to fill Wang’s role.
His resignation nonetheless augurs poorly for the declining Huayi Brothers, China’s oldest and leading private production company. Despite having produced “The Eight Hundred,