Ultrasonic CEO, COO Disappear as Company Cash Goes Missing

Ultrasonic AG’s chief executive officer and chief operating officer disappeared and most of the company’s cash has gone missing, the footwear manufacturer said in a statement today.

Chi Kwong Clifford Chan, chief financial officer of the Cologne, Germany-based company, informed the supervisory board that CEO Qingyong Wu and COO Minghong Wu had been unreachable since the weekend and that their whereabouts were unknown.