Huayi Brothers Co-Founder and Chairman Wang Zhongjun has resigned from his post as executive chairman of the board at Huayi Tencent Entertainment, the latter company announced Friday. He will step down next Tuesday because he “needs to focus on other matters,” it said. Wang will be vacating his Huayi Tencent roles as executive director and chairman of the board, as well as his positions as both chairman and member of the company’s nomination and corporate governance committees. The company said...
Dennis
Wang
Founder / Chairman
More reclusive brother Dennis Wang (aka Wang Zhongjun), along with the younger James (aka Wang Zhonglei), started Huayi Brothers as an advertising company in 1994 but transitioned into film. While Dennis is responsible for business and James keeps an eye on talent, both have creative ideals and entrepreneurial smarts. The company was once compared to Miramax for its indie flair. Now, with a range of businesses including cinemas, fashion, music and theme parks, a comparison to Disney is more appropriate. Admired for their professionalism and corporate governance, the siblings are still trying to outrun China’s encroaching Internet giants. In Hollywood, the brothers got near the altar with Studio 8 but instead signed an equity and co-production pact with STX.
