Arab Today, arab today chinas secondbiggest auto firm dongfeng gets new chief
Last Updated : GMT 21:38:38
Arab Today, arab today
Arab Today, arab today

China's second-biggest auto firm Dongfeng gets new chief

Arab Today, arab today

Arab Today, arab today China's second-biggest auto firm Dongfeng gets new chief

Chairman of Dongfeng Motor Corp, Xu Ping
Shanghai - AFP

China's second-largest car maker Dongfeng said on Wednesday that its chairman was being replaced, but denied a rumoured merger with another auto giant, China FAW Group.

Dongfeng Motor Corp. said Xu Ping would step down as both chairman and Communist Party chief of the state-owned company, to be replaced by Zhu Yanfeng, a former chairman of FAW, according to a statement.

Zhu was most recently deputy party chief of northeastern Jilin province, but was chairman of FAW -- China's third-biggest auto manufacturer -- from 1999 to 2007, according to state media.

The statement gave no reason for Xu's departure, but said the decision was made by the ruling party and the State Council, or cabinet.

The Chinese government controls the management of the country's major state-owned enterprises, with power to shuffle their heads at will.

Dongfeng, the country's second-biggest automaker by sales last year, has several joint ventures with foreign manufacturers, including France's PSA Peugeot Citroen.   

Dongfeng's listed unit denied media reports that a merger between its parent and FAW was in the works.

"Neither the company nor its controlling shareholder has received any information... on the above mentioned matters from any governmental authorities, or expressed any relevant intention to any authorities," Dongfeng Motor Group Co. said in a separate statement to the Hong Kong stock exchange on Tuesday.

It added that the company's board had not studied any such merger.

The leadership change at Dongfeng comes just two days after China named new heads of its three biggest energy companies: China National Petroleum Corp., Sinopec and offshore oil firm CNOOC.

Speculation about mergers among China's major state-owned enterprises has grown after state media said the government is considering merging scores of its biggest state firms to create around 40 national champions from the existing 112.

The government agency that manages those enterprises, the State-owned Assets Supervision and Administration Commission, has denied those reports.

Dongfeng Motor stock was up 1.58 percent in Hong Kong trading on Wednesday afternoon.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas secondbiggest auto firm dongfeng gets new chief Arab Today, arab today chinas secondbiggest auto firm dongfeng gets new chief

 



Arab Today, arab today
Arab Today, arab today US, Britain ban laptops on flights

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Hezbollah commander killed by own men

GMT 07:43 2017 Wednesday ,22 March

Hezbollah commander killed by own men
Arab Today, arab today Tunisian media host praises her new experience

GMT 12:35 2017 Wednesday ,15 March

Tunisian media host praises her new experience
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Palestinian police wage war

GMT 07:53 2017 Friday ,17 March

Palestinian police wage war
Arab Today, arab today Dalia Mustafa believes in the presence of ghosts

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 14:17 2017 Monday ,20 March

Cholesterol-slashing drug not impair brain

GMT 17:08 2017 Saturday ,18 March

Reveals secrets of tourism flights to space

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 15:42 2017 Saturday ,18 March

HTC U Play now available in KSA

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday