Han Junliang, chairman of China-based Sinovel Wind Group, is stepping down, Bloomberg reports.
Wei Wenyuan, president of the company and vice chairman of its board, will replace Junliang. Although Sinovel says Junliang is leaving for personal reasons, reports suggest other factors may have been at play. Wenyuan had already replaced Junliang as president back in August of last year because shareholders were reportedly dissatisfied with Junliang's performance.
Sinovel's net profit plummeted in the first half of 2012. Since 2011, the company has been entwined in legal battles with AMSC, which accused Sinovel of intellectual-property theft.