Milkground founder Chai Xiu resigns from all board and company positions
Chai Xiu, founder of Chinese cheese company Milkground (Miaokelanduo), resigned from all positions including the board of directors on September 20, 2026, citing personal reasons and to support the company's stable development. She retains a 16.01% stake via direct holdings and her concert party. Her departure follows her removal as vice chairman and general manager in January 2026 amid a compensation dispute over an M&A fund.
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Cross-source coverage
Common ground
- Both sides agree that Chai Xiu's departure from Miaokelanduo is a significant event involving a founder leaving operational roles while retaining a 16% stake.
- Both agree that the company's 29% revenue growth during this transition shows strong market demand for its products.
- Both acknowledge that Mengniu's involvement as a controlling shareholder is a key factor in the leadership change.
Points of contention
- Eastern Agent sees the resignation as a healthy, mature transition from founder-led to professional management, while Neutral Agent views it as a power struggle dressed up in corporate jargon.
- Eastern Agent argues that 'personal reasons' and 'supporting stable operations' are complementary statements, but Neutral Agent says they are contradictory and signal opaque governance.
- Eastern Agent dismisses the dissenting vote on the semi-annual report as a personal grievance over a bonus, while Neutral Agent insists it's a serious fiduciary statement about the financial numbers.
- Eastern Agent believes the 29% revenue growth proves the governance transition is working, but Neutral Agent says revenue growth doesn't prove governance quality and could be unsustainable without the founder.
Blind spots
- Both sides may overlook the possibility that the dissenting vote could be a genuine concern about financial reporting that neither fully addresses.
- The debate doesn't explore how the company's supply chain and brand relationships might be affected long-term without the founder's direct involvement.
- Neither side considers the perspective of minority shareholders or employees who might be impacted by the leadership change.
WorldAttention’s read
The roundtable reveals a fundamental clash in interpreting Chai Xiu's departure from Miaokelanduo. Eastern Agent frames it as a textbook case of healthy corporate evolution in China's market economy, where founder-led companies naturally transition to professional management under state-backed players like Mengniu. They point to the 29% revenue growth as proof that the system works, and dismiss the dissenting vote and contradictory statements as normal procedural moves or cultural nuances. Neutral Agent counters that these are red flags—a founder voting against her own company's financials and inconsistent messaging from the board suggest a power struggle, not a smooth transition. They argue that revenue growth doesn't guarantee good governance and that Chai Xiu's retained stake may be a cage, not a vote of confidence. While both agree on the basic facts, they disagree on what those facts mean. The blind spots include a lack of focus on long-term operational risks and the perspectives of other stakeholders. Ultimately, the debate highlights how the same events can be read as either progress or fracture, depending on whether you prioritize financial results or governance signals.
Reporting timeline
Miaokelanduo founder Chai Xiu resigns from all positions at Chinese dairy company
On the evening of September 21, Miaokelanduo (妙可蓝多) announced that its board of directors received a resignation letter from founder Chai Xiu on September 20. Chai Xiu resigned as a non-independent director of the 12th board and from all board committee positions for personal reasons, effective immediately. She will no longer hold any position at the company or its subsidiaries. Chai Xiu directly holds 76.1036 million shares, and together with her concert party Jilin Dongxiu Commercial Trade Co., Ltd., holds a total of 16.01% of the company's shares. Her original term was set to expire on November 17, 2027. She has outstanding public commitments that are not share-increase pledges, and must continue to manage her shares and fulfill those commitments after departure. Chai Xiu, aged 61, is the founder of Miaokelanduo. On January 23, 2026, the board had already approved a motion to remove her from the roles of vice chairman, general manager, and legal representative. Following that removal, Kuai Yulong, a professional manager from controlling shareholder Mengniu, took over as president and legal representative.
Read sourceMiaokelanduo Director Chai Xiu Resigns, Citing Personal Reasons, No Longer Holds Any Position
Miaokelanduo (600882.SH) announced on September 21 that its board received a resignation report from director Chai Xiu on September 20. Chai Xiu resigned from her position as a non-independent director of the 12th board and related board committee roles due to personal reasons. She will no longer hold any position at the company or its subsidiaries. Chai Xiu directly holds 76,103,600 shares of the company, and her concert party, Jilin Dongxiu Commercial Trade Co., Ltd., holds 5,280,000 shares, together representing 16.01% of the company's total share capital.
Read sourceMiaokelanduo Director Chai Xiu Resigns, Leaves All Company and Subsidiary Roles
On September 21, Chinese cheese company Miaokelanduo (妙可蓝多) announced that director Chai Xiu has resigned from her position as a non-independent director on the 12th board and all related committee roles, effective immediately upon delivery of her resignation letter. In her resignation statement, Chai Xiu said she stepped down 'to support the company's stable operation and long-term development.' Following her resignation, she will hold no positions at the company or its subsidiaries. The company confirmed that her departure does not reduce the board below the legally required minimum. As of the announcement date, Chai Xiu directly holds 76,103,632 shares, and her concert party, Jilin Dongxiu Commerce Co., Ltd., holds 5,280,000 shares, for a combined stake of 16.01% of total shares. She remains subject to share trading restrictions under Shanghai Stock Exchange regulations and must continue to fulfill her public commitments.
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Chai Xiu Resigns from All Positions at Miaokelanduo, Remains Company Shareholder
On September 21, after the market close, Chai Xiu resigned from all positions at Miaokelanduo (妙可蓝多) and its subsidiaries, including her role on the board of directors. The company's board stated that her resignation will not reduce the board's membership below the legal minimum, and the resignation took effect upon delivery to the board. As of the disclosure date, Chai Xiu directly holds 76,103,632 shares, and her concert party Jilin Dongxiu Commercial Co., Ltd. holds 5,280,000 shares, together representing 16.01% of the company's total shares. Miaokelanduo will promptly hold a by-election to fill the vacant board seat. The report is sourced from Times Weekly.
Read sourceMiaokelanduo founder Chai Xiu resigns from board after removal, compensation dispute
Chai Xiu, founder of Chinese cheese giant Miaokelanduo, has resigned from the company's board of directors, effective September 20, 2026, according to a company announcement. Chai stated she was stepping down to support the company's stable operations and long-term development. She will no longer hold any position at the company or its subsidiaries. This follows her removal as vice chairman, general manager, and legal representative in January 2026. The company's 2025 annual report noted that Chai failed to fulfill a compensation commitment related to an M&A fund, causing a significant loss for the company. As a result, her 2025 target bonus was withheld. In August 2026, Chai cast the sole dissenting vote against the company's semi-annual report, citing objections to information disclosure, related-party transaction disclosures, and the authenticity of historical documents. Despite the leadership turmoil, Miaokelanduo reported first-half 2026 revenue of 3.304 billion yuan, up 28.71% year-on-year, and net profit of 151 million yuan, up 13.74%. Chai and her concert party hold 16.01% of the company's shares.
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