2011-03-09 14:08

Zhang Dazhong [Photo / File photo]

Gome Electrical Appliance Holdings Ltd is likely to appoint Zhang Dazhong as the new chairman of the board, sina.com reported Wednesday, citing sources close to the matter.

A well-informed source told reporters that although the nomination is fixed, personnel changes within the company is happening constantly. Hence, everything is indeterminate until the official announcement comes out, the source said.

The report also said that Chen Xiao, the current chairman of the board, is set to leave Gome. After Chen's departure, the company's board of directors will also be reshuffled, it reported.

Gome's largest shareholder (also the founder of the company), Huang Guangyu, is likely to greenlight the new nomination, it reported.

At the latest news conference, Gome announced that it will open 480 new chain stores in China. The idea was in line with Huang's marketing strategy, the report said. The strategy was announced when Huang was battling Chen for Gome's controlling rights in 2010.

In addition, the high court of Hong Kong has unblocked Huang's wife's assets in the special administrative region, which means Huang's controlling force at Gome is recovering, the report said.

Zhang is founder of Dazhong Electric Appliance. Zhang sold all his shares to Gome for 3.65 billion yuan ($555.8 million) in December 2007, the report said.