The chairman of Fosun, Club Med’s parent company and a Thomas Cook investor, has reappeared at the group’s annual meeting in Shanghai after being detained by police.
Guo Guangchang, the high-profile Chinese tycoon, was reported missing by his staff on Friday but Fosun later confirmed he was assisting authorities with a probe.
Fosun president Wang Qunbin would not disclose details of the police investigation, but said it mostly concerned Guo’s personal affairs, not Fosun business.
The group’s shares were suspended on Friday and dropped more than 10% when trading resumed today.
Fosun bought Club Med in February and took a 5% state in Thomas Cook in March.
Guo is not the only Chinese executive to have temporarily gone missing this year amid a crackdown on the financial sector by authorities.
