(CFP)

Niu Gensheng, founder of Mengniu Dairy Group, one of the leading dairy product manufacturers in China, has resigned from the post of chairman of the board of directors of the group.

Niu said he planned to engage in charity work in the future. Meanwhile, he will keep the post of non-executive director of the group and continue to participate in the group's strategic planning.

Niu, 53, founded Mengniu in 1998 and turned the company into a Hong Kong Stock Exchange listed dairy giant. After being a successful entrepreneur, Niu dedicated himself to charity work.

Up to now, Niu has donated all his personal shares of Mengniu Dairy Group. He set up the Laoniu Foundation in 2004 to help people in need. In 2006, he resigned from the post of president of the group, which allows him to devote more time to charitable undertakings.