Reuters: Global Markets: China Yurun Food shares fall as chairman quits

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China Yurun Food shares fall as chairman quits Jul 9th 2012, 02:16 HONG KONG | Sun Jul 8, 2012 10:16pm EDT HONG KONG (Reuters) - Shares of China Yurun Food Group Ltd (1068.HK) fell more than 9 percent to their lowest in two weeks after the Chinese meat processor said founder Zhu Yicai has resigned as chairman. The stock fell to HK$6.43, its lowest since June 28. That compared with a 0.41 percent decline in the benchmark Hang Seng Index .HSI as of 9.58 p.m. EDt on Sunday. "The resignation has added uncertainty over the longer term direction of the company," said Steven Leung, a director from UOB Kay Hian. China Yurun Food said founder Zhu Yicai has resigned as chairman with immediate effect but will become honorary chairman and a senior advisor.

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