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China Food appoints CEO of ondiments division

By BFN News | 08:21 AM | Thursday 05 April, 2012


China Food Co has appointed Fu Guoping as chief executive of Fortune Food (China) Co. Fortune Food is the group's main China trading subsidiary and responsible for launching 'Xaka', the group's premium grade soya sauce and the driver of the condiments division. Fu founded the China Food Group in 1994 and was instrumental in developing the both the feed and condiments business. He has a beneficial interest in 14,772,883 ordinary shares representing 18.51% of the ordinary share capital. These shares are held through Main World Investments Limited. Following this appointment, Raphael Tham Wai Munwill continue as overall group chief executive and will focus on developing the group's strategy to become a leading brand in north China condiments sector and completing the sale of the company's Feed business which continues to progress. Non-executive chairman John Mclean said: "The board is delighted that Mr. Fu has agreed to take the chief executive officer position of the group's condiments business. "His experience will enable China Food to capitalise on the significant opportunities in this particular market whilst leaving Raphael to concentrate his efforts on the overall strategic direction of the group and to negotiate a successful sale of the feed business." At 8:21am: (LON:CFC) Capital For Companies VCT share price was 0p at 29.25p Story provided by StockMarketWire.com