Jahwa approves chair’s resignation

The board of directors at cosmetics maker Shanghai Jahwa United Co has approved the resignation of the company's chairman Ge Wenyao, the company said in a statement on Sunday.

The company said the 66-year-old Ge submitted his resignation Tuesday citing age and health reasons. Zhang Chun, an independent director, will take over as the interim chairman.

Shareholders of Shanghai Jahwa Group Co, the listed unit's parent company, sacked Ge as the group's chairman and general manager in May, as Ping An Trust, the controlling shareholder of Shanghai Jahwa, claimed some group executives had been involved in corruption.