* Fosun says Liang Xinjun resigned for health reasons
* Senior vice president Ding Guoqi has also stepped down
* Profits soar 28 percent to more than 10 billion yuan
(Adds details, background)
HONG KONG, March 29 (Reuters) - Fosun International Ltd
, one of China's most aggressively acquisitive
conglomerates, said late on Tuesday that its co-founder and
chief executive would step down in a broader reshuffle announced
alongside annual earnings.
The leisure-to-insurance group, one of China's largest
privately held firms, said in a statement to the Hong Kong stock
exchange that Liang Xinjun had resigned for health reasons. It
gave no further details.
Senior vice-president Ding Guoqi also stepped down from the
Liang has been a public face of Fosun, particularly around
the battle for French leisure group Club Med. He founded Fosun
in 1992 with chairman Guo Guangchang and a handful of others,
with the aim of emulating the strategy of U.S. investor Warren
Buffet, using insurance cash for more lucrative investments.
For Fosun, that has included bets on everything from
Portuguese insurance to One Chase Manhattan Plaza, the
headquarters of JPMorgan, bought in 2013.
Fosun said in the statement that its net profit rose 28
percent to a record high of over 10 billion yuan ($1.45
In the Tuesday statement Guo emphasised the group's strategy
to contain funding costs while investing heavily in new
technologies, including artificial intelligence and automation.
($1 = 6.8779 Chinese yuan renminbi)
(Reporting by Anne Marie Roantree; Editing by Mark Heinrich and