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[Update] HNA Group Announces Death of Co-Founder and Chairman Wang Jian

HNA Group co-founder and Chairman, Wang Jian (57), died on July 3 during a business trip in France. On July 6, HNA Group revelead that the shares owned by Wang Jian will be, as planned, donate to charity.

HNA Group’s board and management team, led by co-founder and Chairman Chen Feng and CEO Adam Tan, issued the following statement:

“HNA Group extends deepest condolences to Mr. Wang's family and many friends. Together, we mourn the loss of an exceptionally gifted leader and role model, whose vision and values will continue to be a beacon for all who had the good fortune to know him, as well as for the many others whose lives he touched through his work and philanthropy.”

Wang Jian died after falling from a 15-meter high cliff while having his photograph taken in Bonnieux, according to a police officer reached by phone from Avignon. The death isn’t being viewed as suspicious, the officer said.

Wang Jian owned about 15 percent of HNA Group, the Chinese conglomerate.

HNA representatives declined to comment beyond public statements.

HNA Group issued the following statement regarding the succession:

"HNA Group’s Board of Directors recently met and has reaffirmed its commitment to the orderly continuity of the company’s strategy and operations, under the leadership of Chairman Chen Feng and Chief Executive Officer Adam Tan. The Board has determined that Chairman Chen will assume the duties of Chairman Wang. Adam Tan will continue to serve as Chief Executive Officer [...] 

The disposition of the shares in HNA Group held by Mr. Wang at the time of his death will be addressed in due course, consistent with his pledge to donate them to charity, and in accordance with all applicable legal and regulatory guidelines. HNA Group is committed to providing timely updates, as appropriate, when they become available."

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