Ripple effects from volatile Chinese stock market has directly impacted LED capital market, shaking many companies’ management structures. Up to 18 managers in listed LED manufacturers have resigned as of Aug. 25, 2015, nearly double the number of senior managers that retired in 2014.

Many people’s aim in life is to “become a general manager, climb the corporate ladder to become a CEO, and eventually marry a white, wealthy and pretty woman.” Yet, the tide of retiring senior officials also indicate the path is a difficult one.

(Source: LEDinside)

“For the secretary of the board, weekdays are very busy, due to the various markets that need to be monitored,” said a listed company secretary of the board. “Work can be miscellaneous and cover checks, and investor surveys.” Additionally, company restructures, non-public issue of shares, basically all these fall under the secretary of board’s responsibilities. If there are extra investment projects than the secretary of the board will be under even greater pressure.

Of the 18 resigning managers, deputy general manager or vice presidents amounted for the most, comprising seven in total. This was followed by company chairman which tallied five resigns including Changfang Lighting Chairman Zihua Deng, and Zichang Deng. Additionally, Dezhu Zhang, the Chairman and Vice President of Dongshan Precision Manufacturing has also left the company.

Changfang Lighting had the most number of managers resigning, reporting about five in total.

As for the timing of the resignations, since China’s A-share market plummeted in June 2015, the number of resignations has increased. The most number of resignations was reported in August, with a total of six resignations, while only one person resigned in March.

“The volatile stock market contributed to the most number of resignations in August,” said one high ranking official.

According to the editorial team’s research, only Yankon Lighting’s Independent Director Yiping Shao stated reasons of his resignation. The other 17 cases did not state resignation reasons.

Hongliopto’s Vice Chairman Chengzhang Ma is already very old, while the company’s Executive Vice President Yusheng Liu left because of changes in his responsibilities. Another 15 senior officers left because of personal reasons.

Additionally, Tong Chui, member of the supervisor board at Ocean King’s Lighting, and Liu from Hongliopto will continue to work in the company even after resigning from their management roles. Liu will continue to act as Hongliopto subsidiary Ledia Lighting’s General Manager.

(Author: Lurena Liu, Editor, China, LEDinsidehttp:// Translator: Judy Lin, Chief Editor, LEDinside)