Electronics retailer Gome Electrical Appliances (0493.HK) resolved a long-running dispute by agreeing to appoint representatives of jailed founder Huang Guangyu to the company’s board, the South China Morning Post reported. In September Huang, also known by the Cantonese romanization of his name, Wong Kwong-yu, had an attempt to remove Gome Chairman Chen Xiao and appoint his corporate lawyer and sister to the board rejected; he had threatened to sever ties between the listed company and 400 privately owned Gome stores. His lawyer and sister will now join the board as executive director and non-executive director, respectively, subject to shareholder approval. News of the resolution of the dispute, which has lasted for more than a year, sent Gome shares up as much as 24% in Hong Kong on Thursday, before closing up 18.7% at HK$3.24 (US$0.41).
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