The largest shareholder, director, and managing director of health and wellness company Jatcorp, Zhan (Jack) Wang has resigned, effective immediately. He remains the largest shareholder. Sunny Jian Xin Liang continues as CEO.
Wang has resigned citing personal reasons. Wang is the sole director of Gold Brick Capital, which has a 19.99 per cent shareholding in the company. He is also a director of Pacific Healthy International Holdings and Pacific Healthy ANZ, both distribution companies of dairy products, vitamins and cosmetics. He has more than a decade of experience in cross-border ecommerce and eight years experience in maternity and infant retail.
Wang was appointed executive director of Jatcorp in June 2022 and as managing director in September the same year. His remuneration service agreement had a three year term, ending September 2025, with a base salary of $250,000 plus superannuation and a five month termination notice by either party.
The company has developed two brands, Neurio and Moroka, using lactoferrin from Australian and New Zealand Milk. In an interview last week, Liang said the company was “evolving from a FMCG distribution outfit to a consumer goods powerhouse”.
IN 1Q25, the company recorded a 25 per cent jump in ongoing operations revenue, and its fourth consecutive quarter of positive operating cash flow. Liang said, “We’ve had a strong start to the new financial year delivering solid Q1 revenue and gross profit through expanding our omnichannel presence, increasing production capacity, and strengthening our partnerships.
“This performance highlights our ability to consistently deliver on our strategy, even during the retail off-season of our largest market, China.”
