Chinese mobile operator China Mobile has announced that Wang Jianzhou, the company’s CEO, is being replaced by current vice president Li Yue.
The company also revealed that Jianzhou will stay on as chairman and executive director following the new…
Chinese mobile operator China Mobile has announced that Wang Jianzhou, the company’s CEO, is being replaced by current vice president Li Yue.
The company also revealed that Jianzhou will stay on as chairman and executive director following the new appointment.
Industry watchers have been anticipating a boardroom shuffle for two years, ever since Wang turned 60, the usual retirement age of China’s top officials, according to the Wall Street Journal.
China Mobile recently posted a rise in pre-tax profit to Yn76.5bn (US$11.2bn) for the six months ended June 30, 2010, from Yn73.8bn (US$10.8bn) for the same period in 2009. EBITA for its 2010 first-half increased to Yn116.6bn (US$17.1bn), compared with Yn109.9bn (US$16.1bn) for the corresponding period last year.
