Talk of shakeup at China Resources
Print Edition
STATE-OWNED China Resources Holdings Co, whose chairman was replaced this week on corruption allegations, yesterday removed its CEO’s details from the official website, sparking talk of a shakeup in the management team.
Wu Ding, CEO of CR Holdings and recently promoted as assistant general manager of CR Group, has a “close relationship” with the company’s former chairman Song Lin, Caixin.com said yesterday.
Wu was being investigated, Caixin reported citing unidentified sources, while CR declined to reveal further information about Wu. He was suspected to be involved in Song’s scandal after China’s top anti-corruption body last Friday confirmed that an investigation had started.
Song was accused by Wang Wenzhi, a Xinhua news agency reporter, of keeping a mistress, Yang Lijuan, who acted as an accomplice in taking bribes and money laundering.
CR Holdings said on Wednesday that Fu Yuning, former executive chairman of China Merchants Group, has replaced Song as the chairman after approval by the government.
In July, Wang accused Song and other executives of suspected graft and dereliction of duty in overpaying 7.9 billion yuan (US$1.3 billion) for coal mines in Shanxi Province, resulting in the loss of state assets.
On Tuesday, China Resources Land said its Executive Director and Vice Chairman Wang Hongkun, 46, has resigned for health reasons.
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