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CNOOC CEO, chairman resign

CNOOC Ltd. announced that CEO and executive director Yuan Guangyu has retired, effective Sept. 2.

Xu Keqiang, currently president of the company, will handle duties and responsibilities of the CEO until a successor is appointed.

In addition, CNOOC announced that board Chairman Yang Hua has resigned, effective Sept. 2, due to a change in appointment. Hua is also the chairman of the nomination committee.

Vice Chairman Wang Dongjin will handle duties and responsibilities of the chairman of the board and chairman of the nomination committee until a successor is appointed.

A Sept. 2 report from Reuters said Hua was named as general manager of China's state-owned energy giant Sinochem Group.

The report adds that the change was made by the Organization Department of the Communist Party of China, which controls staffing positions at government and state-owned companies.