Photo: VCG
HNA Group’s youngest board member and head of its shrinking tech unit has departed in the latest management change as the Chinese conglomerate continues scaling back its assets following years of expansion.
Sources told Caixin Monday that Tong Fu, general manager of HNA’s technology division and the company’s youngest director, has left the company. Li Weijian, an HNA veteran and head of HNA’s logistics business, will replace Tong leading the technology unit, sources said.
An HNA spokesperson declined to comment.
Tong, 36, joined HNA in 2004 and has taken senior positions in the group’s finance and technology divisions. Several people familiar with HNA said Tong was an important aide of HNA’s late co-founder and co-Chairman Wang Jian, who steered HNA’s aggressive global acquisitions of technology and financial assets.
But the company put the brakes on the expansion since 2017 amid regulatory concerns on corporate debt. HNA has stepped up efforts to offload assets to repay debts and reshuffled its structure to refocus on its core business after Wang’s accidental death last year.
Amid the ongoing internal reform led by current Chairman Chen Feng, HNA is likely to further downsize the technology unit, a person close to the company said.
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