Zheshang Securities President Resigns Amid Probe Speculation

Wang Qingshan, the president of Zheshang Securities and a former subordinate of a disgraced ex-securities regulator, stepped down amid swirling speculation since he abruptly disappeared from public view in late March.

Shanghai-traded Zheshang received a written resignation letter from Wang, the company said Friday. Citing personal reasons, Wang asked to resign from his positions at the company including board director and president. The board accepted Wang’s resignation Friday and named board secretary Zhang Hui to temporarily assume the duties of president, according to a company filing.