Sector News

China names Dai Houliang as general manager of Sinopec Group

May 10, 2016
News

China’s assets regulator has named long-serving company executive Dai Houliang as general manager for state-run China Petrochemical Group (Sinopec Group) to replace Wang Tianpu, who is under investigation for bribery and abuse of power.

Dai served the last decade as a senior vice president and chief financial officer of the group’s listed arm, Sinopec Corp, according to the group’s website.

Dai was selected to take up the general manager post by the State-Owned Assets Supervision and Administration Commission, the company said on Monday, giving no further details.

Dai’s appointment comes more than a year after his predecessor Wang was put under investigation for accepting gifts, abusing his position for the benefit of his relatives, spending public money on banquets, and taking bribes.

The country’s anti-corruption watchdog said last September Wang was expelled from the Communist Party and that he would be prosecuted for his crimes, part of a broad anti-graft campaign targeting officials at state-owned conglomerates.

Dai started his Sinopec management experience in 1997 as the deputy managing director of Sinopec’s subsidiary plant Yangzi Petrochemical Corp. Sinopec is Asia’s largest refiner.

By Beijing Monitoring desk and Chen Aizhu

Source: Reuters

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Food & Drink

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

Send this to a friend