Zong Resigns from Wahaha…

Friday, June 8, 2007 3:12
Posted in category Invest in China
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Claiming he ‘can no longer endure the slander and tyranny of the two managers appointed by Danone, which has profoundly hurt (his) reputation and feelings’, Mr. Zong has resigned from Wahaha.

This is following the recent announcement of Danone’s lawsuit in the State of California

While at a distance this may look to be a good thing, it is sure to add another risk element for Danone. Soon after the announcement, Danone announced the appointment of Emmanuel Faber to replace him.

and then it was reported that Wahaha would not except the appointment of Emmanuel Faber

No doubt, Danone’s position is a tough one. they have caught their JV partner going around them to the tune of 100 million USD… and their partner (Wahaha), lead by Mr. Zong’s offensive, has done an excellent job of creating a stir.

Should Wahaha’s employees reject Danone, then they were much off than they were before, and as such, it is in their best interests to resolve this as quickly as possible.

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