Miaokelanduo founder Chai Xiu resigns all posts, exits management after board dispute
Miaokelanduo founder Chai Xiu resigned from all positions on September 21, 2026, including her board seat, completing her exit from management. The departure follows her removal as general manager in January 2026 over a guarantee dispute linked to a 700 million yuan loan. Chai remains second-largest shareholder with a 16.01% stake, nearly fully pledged. Controlling shareholder Mengniu (37.77% stake) is expected to accelerate integration. The company has initiated arbitration against Chai over an unpaid compensation commitment, with a potential 119-127 million yuan loss.
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Cross-source coverage
Common ground
- Chai Xiu's exit from Milkground was driven by a combination of governance failures and a strategic shift by controlling shareholder Mengniu.
- The 22.84% revenue growth in the consumer cheese business shows Chai Xiu built a successful company, but her personal guarantee disputes created real financial losses.
- Mengniu's pivot toward industrial dairy ingredients like whey protein is a key part of their long-term plan, though it carries execution risks.
- The 119-127 million yuan loss from the guarantee dispute was a material event that hurt shareholders.
Points of contention
- Eastern Agent sees Chai Xiu's exit as a necessary governance correction for national food security, while Regional Agent views it as a hostile takeover that crushes entrepreneurship.
- Neutral Agent argues Mengniu's primary motive is margin expansion, not patriotism, but Eastern Agent insists national strategy and profit align in Chinese state-backed firms.
- Regional Agent claims this is part of a global pattern of state-backed giants eliminating founders, but Eastern Agent dismisses this as a lazy comparison across different industries and countries.
- There is no agreement on whether the industrial ingredients pivot will cannibalize the successful consumer cheese business or simply add to it.
Blind spots
- None of the agents adequately addressed the impact on small dairy farmers and local supply chains that may be disrupted by the strategic shift.
- The debate overlooked the message this sends to other Chinese entrepreneurs about the risks of building a business that could be absorbed by a state-backed giant.
- No one explored whether Mengniu could have achieved its whey protein goals through partnership rather than full control and founder removal.
WorldAttention’s read
This debate shows that Chai Xiu's departure from Milkground is a complex case where governance failures, strategic realignment, and power dynamics all played a role. The consensus is that her personal guarantee disputes made her exit inevitable, and Mengniu is genuinely pursuing a shift toward higher-margin industrial ingredients to reduce China's whey import dependency. However, the agents strongly disagree on whether this is a healthy market evolution or a troubling pattern of state-backed consolidation that crushes entrepreneurial independence. The biggest blind spot is the human cost for employees and small farmers, as well as the broader chilling effect on private-sector innovation in China. Ultimately, the success of this pivot will depend on whether Mengniu can manage two very different business models—consumer cheese and industrial ingredients—without undermining the profitable growth Chai Xiu built.
Reporting timeline
Miaokelanduo Founder Chai Xiu Exits Board, Clearing Path for Mengniu's Dairy Deep-Processing Strategy
Miaokelanduo founder Chai Xiu has resigned from all positions at the company, including her board seat, marking her complete exit from management. The move, reported by 21st Century Business Herald, removes a key dissenting voice against controlling shareholder Mengniu. Chai remains the second-largest shareholder with a 16.01% stake, but it is nearly fully pledged. The departure follows a period of escalating conflict, including Chai's removal as general manager in January 2025 over a guarantee dispute and her subsequent opposition votes on board matters. The article argues Chai's exit is a risk clearance for Miaokelanduo, enabling Mengniu to accelerate integration. Miaokelanduo is strategically important to Mengniu as a platform for dairy deep-processing, particularly for producing whey protein and casein, key ingredients for Mengniu's sports nutrition brand, Maxine. The company's new '13434' strategy targets over 10 billion yuan in revenue. In the first half of the year, Miaokelanduo's revenue grew 28.71% year-on-year to 3.304 billion yuan, with net profit up 13.74%.
Read sourceMiaokeland founder Chai Xiu exits board, clearing path for Mengniu's dairy processing strategy
Miaokeland founder Chai Xiu has resigned from the board and all positions at the company, marking her complete exit from management. Chai remains the second-largest shareholder with a 16.01% stake, nearly fully pledged. The departure removes a key dissenting voice against controlling shareholder Mengniu (37.77% stake), which is expected to accelerate integration. The conflict stemmed from a guarantee dispute over an old investment where Chai failed to compensate Miaokeland for losses, as well as broader operational disagreements. Chai had previously voted against management proposals, including executive compensation. Her exit is seen as a risk clearance for Miaokeland. The article notes Miaokeland's strategic importance to Mengniu's deep-processing ambitions, particularly in whey protein production. As China's largest cheese maker, Miaokeland has natural advantages in producing whey protein through cheese-making. Mengniu's sports nutrition brand Maison recently completed a near-100 million yuan A+ funding round, with whey and casein as core ingredients. Miaokeland now prioritizes whey products for internal Mengniu use. The company reported 28.71% revenue growth to 3.304 billion yuan in H1 2025.
Miaokelanduo founder Chai Xiu resigns after casting sole dissenting board vote
Chai Xiu, founder of Chinese cheese company Miaokelanduo, has resigned from all positions at the company after casting the only dissenting vote on a board resolution regarding the 2026 semi-annual report. According to a company announcement, Chai submitted her resignation citing a desire to support the company's stable operations and long-term development, though her original term was set to expire in November 2027 and she has unfulfilled public commitments. The article, reported by operator finance media, details a history of escalating tensions between Chai and the current management, which is dominated by majority shareholder Mengniu. In January, the board removed Chai from her roles as vice chairman, general manager, and legal representative, leaving her only a director seat. In August, she voted against the semi-annual report, alleging inconsistencies in how her commitments were described. The article notes that in February, Mengniu president Gao Fei publicly praised Chai's achievements, but an arbitration process regarding her compensation commitments remains ongoing. Operator Finance deputy editor-in-chief Liu Ping commented that friction between the parties may continue.
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Miaokelanduo Founder Resigns Amid Arbitration Over 700 Million Yuan Loan Dispute
Miaokelanduo (妙可蓝多), a Chinese cheese company, announced on September 22, 2026, that founder Chai Xiu (柴琇) resigned from all board and company positions. The resignation follows a series of conflicts stemming from a 700 million yuan loan in 2020, when Mengniu (a subsidiary of China Mengniu Dairy) lent the amount to Jilin Yaohu, a Chai-affiliated entity, with a Miaokelanduo-invested fund providing guarantees. When Jilin Yaohu defaulted in September 2024, the fund faced liquidation, causing Miaokelanduo an estimated 119-127 million yuan loss. Chai had promised personal compensation but failed to deliver, leading Miaokelanduo to file for arbitration in January 2026. Chai was subsequently removed as deputy chair and general manager in January 2026. She cast the sole opposing vote on the 2026 half-year report in August 2026, questioning related-party disclosures. As of September 2026, Chai and her concert parties hold 16.01% of Miaokelanduo shares, nearly fully pledged, while Mengniu holds 37.77%. The arbitration outcome remains uncertain.
Read sourceMiao Ke Lan Duo Founder Chai Xiu Resigns All Posts, Exits Core Management After Earlier Removal
On September 21, Miao Ke Lan Duo (妙可蓝多) announced that founder Chai Xiu, known as the 'Cheese Queen', has resigned from all positions within the company, including her remaining director seat. This follows her removal from core management roles (vice chairman, general manager, legal representative) in January 2025. Chai Xiu and her concert party hold 16.01% of shares, making her a significant shareholder. The company stated the resignation does not affect board operations and a by-election will be held. The article also details ongoing disputes between Chai Xiu and the current management, controlled by Mengniu since 2021. Chai Xiu voted against the 2026 semi-annual report, citing discrepancies in commitment descriptions and related-party transaction characterizations. Separately, the company disclosed that an investment in a merger fund faces a potential loss of 119-127 million yuan for 2025, and it has initiated arbitration against Chai Xiu over an unpaid compensation commitment related to that investment. The report notes that after two years of profit decline (2022-2023), Miao Ke Lan Duo's performance recovered in 2025, with revenue up 16.29% and core cheese business revenue up 22.84%.
Read sourceMiaokelanduo founder Chai Xiu resigns all posts, 'Cheese Queen' exits completely
On the evening of September 21, Miaokelanduo (妙可蓝多) announced that founder Chai Xiu (柴琇) has resigned from all her positions, including chairwoman, marking her complete exit from the company she built. Her departure had been foreshadowed: in January 2026, the board removed her as vice-chairwoman, general manager, and legal representative, retaining only a director seat. The trigger was her failure to fulfill a compensation commitment related to a co-investment fund, leading the company to file for arbitration with the Shanghai International Arbitration Center. The matter is expected to reduce Miaokelanduo's 2025 net profit by approximately 119 million to 127 million yuan. Under Chai's leadership, the company achieved rapid growth after its 2015 backdoor listing, with revenue compound annual growth rate exceeding 50% from 2018 to 2021 and a market value once surpassing 30 billion yuan. Since Mengniu's entry in 2020, the dairy giant has increased its control, now holding 37.77% of shares. In January 2026, Kuai Yulong (蒯玉龙), a Mengniu veteran, succeeded Chai as general manager and legal representative. Despite the leadership turmoil, Miaokelanduo's fundamentals remain solid: first-half 2026 revenue rose 28.71% year-on-year to 3.304 billion yuan, with net profit up 13.74% to 151 million yuan, driven by its 'TOB TOC dual-wheel' strategy.