WL DELICIOUS (HKG:09985) shares are soaring 5.49% in intraday trading on Friday, following the announcement of a significant leadership change. The company has appointed Liu Fuping as its new CEO, effective April 30, replacing the outgoing Sun Yinong who is stepping down due to personal and business commitments.
Liu, currently serving as an executive director and vice chairman of WEILONG Delicious Global Holdings, brings a wealth of experience to his new role. With 24 years in the snack food industry, including leadership positions across various group subsidiaries, Liu's appointment appears to have resonated positively with investors. The new CEO will receive an annual salary of 8.78 million yuan under a three-year contract, demonstrating the company's commitment to his leadership.
The market's enthusiastic response to this leadership transition may be attributed to Liu's extensive industry experience and his family's significant stake in the company. The Liu family maintains control of approximately 80.99% of WEILONG Delicious Global Holdings' shares through various holding entities, potentially aligning management interests closely with those of shareholders. This change at the helm, bringing in a seasoned insider, seems to have boosted investor confidence in the company's future direction and growth prospects.
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