Sina published an article which reported that from April 3 to May 3, 1,846 top executives in publicly traded companies in Shanghai and Shen Zheng resigned. Among those 649 left due to restructuring, term limits, health, or retirement reasons and 36 left due to illegal activities. Meanwhile 169 of those who resigned had an annual salary over 1 million yuan (US$140,000). The article quoted comments from a security law expert from the Central University of Finance and Economics who expressed concern over this phenomenon. “When a significant number of top executives resign from publicly traded companies, the stock market fluctuates because of it. Some of those executives sell the stock they own when they leave. This has had a direct effect on the secondary market.”
Source: Sina, May 4, 2017
http://finance.sina.com.cn/roll/2017-05-04/doc-ifyeycte8528547.shtml