Chen Feng, chairman of the financially distressed Chinese conglomerate HNA, has tightened his family’s control over the group by promoting two family members to key positions after the sudden death of his co-founder Wang Jian in July.
Mr Chen’s son, Daniel Chen, has been elected to the HNA Group board of directors, the company announced on Tuesday. The company also said Dennis Chen, nephew of the 65-year-old chairman, has been named vice-president of the group.
HNA is in the midst of a massive sell-off of the eclectic group of assets it acquired during a $40bn debt-fuelled buying spree, which at its peak included Hilton hotels, airport service group Swissport, and a nearly 10 per cent stake in Deutsche Bank.
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