Tsingtao Jin Quits Two Weeks After Investor Share Sale

Tsingtao Brewery Co., China’s second-largest brewer by market share, reported the resignation of its chairman less than two weeks after an investor sold a block of shares 7 percent below market price.

Chairman Jin Zhiguo resigned for health reasons and had no contact with the investor before the share sale, Tsingtao said in two separate stock exchange filings yesterday. Jin will be replaced by President Sun Mingbo, the company said.