Ex-GM takes Jahwa strife to arbitration
Print Edition
THE former general manager of Shanghai Jahwa United, Wang Zhuo, took his dispute with the company’s major shareholder to a labor arbitration court in Shanghai yesterday when he said his sacking was due to a “deliberate revenge.”
Wang, who was dismissed nearly two weeks ago, claimed in a statement that he didn’t violate the company rules and he was not guilty of dereliction of duty. The company’s shareholders did not have the power to dismiss him from the board of directors.
“I was ousted because of a deliberate revenge,” Wang said.
Shanghai Jahwa responded by saying the motion to dismiss Wang went through due process, and therefore was legal and transparent.
On June 12, a majority of the company shareholders, who held around 95 percent of Jahwa, voted against Wang and removed him as general manager of the homegrown personal care company. He was dismissed for “failure in internal control measures” and Chairman Xie Wenjian has been acting as general manager since then.
The arbitration court didn’t deliver a ruling yesterday.
Shares of Shanghai Jahwa jumped 5.13 percent to 34.65 yuan (US$5.56) yesterday as investors continued to be confident about the company.
The dispute came about due to a long-standing boardroom conflict between the management and Jahwa’s major shareholder, Ping An Insurance (Group) Co, over Jahwa’s plan to expand into fashion.
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