Sun Art Retail Group Appoints New CEO Amid Uncontactable Crisis

Sun Art Retail Group has appointed Julian Juul Wolhardt as the new CEO following the uncontactability of former CEO Li Weiping. With Li unable to perform her duties, the company has vacated her position to ensure continued leadership. The situation hasn’t impacted the company's operations.

Sun Art Retail Group, a leading Chinese hypermarket operator, has named Julian Juul Wolhardt as its new chief executive officer. This decision comes after the previous CEO, Li Weiping, remained unreachable for a prolonged period.

Amid concerns over Li Weiping's unavailability, the board has resolved to vacate her position as executive director effective immediately. This move was announced through a filing by the Hong Kong-listed company.

The company clarified last month that Li's absence, while unusual, does not affect its business operations or performance. Li, who joined the firm in December, remains uncontactable, prompting the leadership change.

(With inputs from agencies.)