Two of the most senior managers at Chinese state-owned enterprises resigned from their chief executive posts yesterday, the latest in a series of moves separating the roles of CEO and chairman.
At CNOOC, Fu Chengyu resigned but is keeping his role as chairman of the offshore oil and gas company, while Wang Jianzhou at China Mobile did likewise.
China’s State Owned Assets Supervision and Administration Commission, the body which oversees large state corporations, has been pushing companies to develop independent boards but has often met resistance.
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