Wahaha, China's beverage giant, has accepted the resignation of its Board Chair Zong Fuli, according to a company insider.

On September 12, Zong submitted her letter of resignation as legal representavtive, director and chair, to the Hangzhou-based company, with Hangzhou state-owned assets supervision commission holding its largest stake. The resignation has been approved by the Board of Directors and the Shareholders' Meeting.

Wahaha has confirmed the accuracy of the news.