Latest News:  
Beijing   Cloudy/Overcast    0 / -6   City Forecast

People's Daily Online>>China Society

Gome sues ex-chairman for breach

By Lu Nengneng (Shanghai Daily)

09:08, January 06, 2012

Gome Home Appliance Co is suing former Chairman Chen Xiao for breaching a confidentiality agreement as their dispute looks set to escalate.

Gome, China's second-largest home appliance retailer, sued Chen for violating the 10 million yuan (US$1.6 million) agreement he signed before he resigned in March, a court in Beijing heard yesterday.

The case centered on a media report published in May which quoted Chen as saying that Gome charged suppliers non-standard fees for its grey income, and he would sell off his shares soon as he saw no investment value in them.

The Hong Kong-listed company responded immediately that it would not tolerate Chen's untruthful and misleading remark that may hurt its business. It had warned it would take the necessary action to protect its interest.

In a statement Chen defended that the quotes were part of a private conversation and taken out of context, which didn't reflect the original meaning or his opinion.

Chen was said to have received 10 million yuan from the company to protect its business secret and interest after he resigned, according to Zou Xiaochun, Gome's executive director, who disclosed the agreement details in court.

【1】 【2】

Email|Print|Comments(Editor:张茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. An ice and snow world

  2. Wen vows closer military exchanges with Pakistan

  3. Sports photos of 2011

  4. APF Guizhou Contingent conducts winter training

Most Popular

Opinions

  1. Pentagon plan changes game in Asia
  2. Will Japan's economy recover in 2012?
  3. It is the China naysayers who are doomed to fail
  4. Common development with neighbors
  5. Japan's case of flawed priority
  6. Move to send 'alarming signal' across Asia
  7. EU's airline carbon tax may backfire
  8. Asian countries refuse to 'take side'
  9. US uses 'hedging strategy' to deal with China's rise
  10. What is behind US 'Return-to-Asia' strategy?

What's happening in China

Anger over online railway ticket sales

  1. iPhone 4S set for debut next Friday
  2. Sinopec eyes doubling in equity crude production
  3. Harmful chemicals in most new cars
  4. Documenting the lives of the forgotten
  5. Online booking doesn’t help migrant workers

PD Online Data

  1. Traditional Mooncakes
  2. About Mooncakes
  3. History of Mooncakes
  4. Modern Mooncakes
  5. Legends of Mid-Autumn Festival