Hong Kong CNN —British drugmaker AstraZeneca has appointed a new China head, replacing a former executive who has been detained by authorities in the country.
Investors have been nervous about AstraZeneca since the company revealed Wang’s status in October.
The pharmaceutical giant is the most valuable company on the FTSE 100, an index of the largest 100 companies listed on the London Stock Exchange.
It said in October that Wang was “cooperating with an ongoing investigation,” and later confirmed he had been detained.
The drugmaker isn’t the only company to have had an executive disappear into China’s judicial system.
Persons:
AstraZeneca, Leon Wang, “, Wang, ”, Bao Fan, Yicai
Organizations:
Hong Kong CNN, British, Iskra Reic, AstraZeneca, British pharma, GlaxoSmithKline, Reuters, London Stock Exchange
Locations:
Hong Kong, China, Shanghai