STOCKS | Fenbi Founder Zhang Xiaolong Resigns as CEO and Chairman

Fenbi (2469) said founder Zhang Xiaolong has resigned as executive director, chief executive officer and board chairman, effective from the announcement date of July 8, citing the need to handle other personal matters, according to Ming Pao. The company said Zhang also stepped down as a member of the board remuneration committee and as chairman of the board nomination committee. The resignation follows controversy after Zhang made remarks during a speech at Renmin University of China in early last month.