The Wall Street Journal-20080124-Best Buy China-s Chairman Resigns
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Best Buy China's Chairman Resigns
SHANGHAI -- U.S. electronics retailer Best Buy Co. said the vice president, chairman and general manager of its China division, Weimin Lu, resigned for personal reasons.
Best Buy spokesman Ron Channg denied media reports that Mr. Lu's departure was related to the division's failure to meet targets. "Our sales results grow by the day. The fact that we're going to open our second store in China next week demonstrates our optimism about our prospects in China," Mr. Channg said.
He declined to give sales figures for Best Buy's store in China. Mr. Lu couldn't be reached for comment.
Best Buy is still seeking a successor for Mr. Lu. In the meantime, its China division will be run by Best Buy Asia Pacific's president and chief operating officer, Redmond Yeung, Mr. Channg said.
