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Bangkok Post
Bangkok Post
Business

RARE PHOTOS: Evergrande ousts top two executives - The Real Truth

Evergrande Beijing China
Evergrande residential buildings are seen under construction in Guangzhou in southern China on July 18. (AFP Photo)

BEIJING: The embattled Chinese real estate giant Evergrande has ousted its CEO and chief financial officer after an internal investigation into why banks seized over US$2 billion from its property services arm.

The resignations come as Evergrande fights for survival and works to reach a restructuring agreement with debtors, to whom it owes an estimated $300 billion.

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