(Reuters) - Shares of China Yurun Food Group Ltd (1068.HK) plunged more than 9 percent on Monday after the meat processor's founder resigned as chairman, the latest Chinese company to see a management reshuffle amid increasing economic uncertainty.
Yurun, which competes with Henan Shuanghui Investment & Development Co Ltd 000895.SZ, Tangrenshen Group Co Ltd 002567.SZ and New Hope Liuhe Co Ltd 000876.SZ, said over the weekend that founder Zhu Yicai had resigned because of personal commitments that required more of his attention.
The news came just days after the company dismissed as untrue "recent rumors alleging certain accounting misstatements". It did not specify the source of the allegations. Full story
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