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Founder Holdings chairman resigns
( 2002-07-29 14:53 ) (7 )

Founder Holdings Ltd., a Chinese-based software developer, announced Monday that its founder, the computer scientist Wang Xuan, has resigned as chairman and director.

Wang, who had been viewed as China's answer to Bill Gates, will continue serving as Founder's chief technical consultant, according to a legal announcement from Founder that gave no reason for the change.

The 65-year-old Wang was replaced, effective Friday, by Hong Kong-listed Founder's president and director, Cheung Shuen Lung.

Wang is an award-winning computer specialist who is widely admired in China for successfully finding commercial applications for his academic research into Chinese-language laser typesetting and electronic publishing.

Cheung, originally a Hong Kong entrepreneur, is also a vice president and executive director of Peking University Founder Group Corp., which was set up in 1986 to commercialize high-tech products developed at the university.

He has handled Founder's overall management and strategic planning, according to the company's Web site.