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Guangzhou Evergrande and Tabao club president resigns

Xinhua, February 2, 2016 Adjust font size:

uangzhou Evergrande and Taobao club's three executives including president Ke Peng have resigned, said the club in an announcement on Monday.

Ke Peng, president of Guangzhou club, Mai Jianle, vice general manager, and Zhang Hongping, member of the board has submitted the resignation due to "personal reasons", said the club in the announcement.

A source close to the club told Xinhua that the transformation of the executives will not affect the operation of the club at all.

"The club runs normally as usual, board member Liu Yongzhuo is still responsible for international transfer," he said.

Liu had been the president of Guangzhou club from 2010-2014. Zhang Yong, COO of Alibaba group, became the president after the e-commerce giant acquired 40 percent of share of the club in 2014. Ke, who has been the director of branding of Evergrande group, became the club's president in 2015.

"Liu may take charge of the club again, and Ke could help the club in advertisement and media relations," said the source.

Guangzhou Evergrande and Taobao club was listed last November on China's National Equities Exchange and Quotations (NEEQ) market and immediately announced its plan of expansion, raising up to 2.65 billion yuan ($402million) by issuing up to 66.2 million shares on NEEQ.

A fund managed by Shenzhen's Foresea Kaynes Investment bought 4.59 million shares in the raising, becoming the third largest shareholder by 1.16 percent.

"A senior executive from the fund may become the new board member," said the source.

Guangzhou Evergrande has won their fifth consecutive title in domestic Chinese Super League and their second Asian Champions League trophy in three years. They finished fourth in FIFA Club World Cup in Japan last December. Endit