Disgruntled investors blamed for Han's exit from Sinovel

摘要

Han Junliang, a legend in the Chinese wind power sector, shocked the market by resigning from the post of Sinovel chairman in March. Han, who founded Sinovel in 2006 and expanded it into China's largest wind turbine maker in 2008 - and the world's second largest in 2010 - said personal reasons were behind his decision to leave all his posts at Sinovel except for his role as director of the board. In August 2012, Han handed over the post of president to billionaire Wei Wenyuan, Sinovel's fourth largest shareholder, who represents the interests of venture-capital groups. On the day of Han's resignation, the board of directors elected Wei as board chairman. Most analysts believe Han resigned due to heavy pressure by venture-capital groups. As the Chinese wind sector began to slow in 2011 following a five-year boom, Han continued to expand staff and build more factories,betting his company's future on offshore wind and the overseas market.