BOC Aviation Ltd. said Wang Jian will retire as an executive director, vice chairman of the board and deputy managing director, effective Dec. 31.

Zhang Xiaolu will replace Wang in the roles, effective Jan. 1, 2020. Most recently, Zhang was deputy general manager of Bank of China Ltd.'s Luxembourg branch and Bank of China (Luxembourg) SA, BOC Aviation said in a Dec. 11 news release.

In addition, Phang Thim Fatt will step down as deputy managing director and CFO on Sept. 30, 2020. He will remain with the company during a transition period until his retirement on Dec. 31, 2020. He will be replaced by Steven Townend, effective Oct. 1, 2020. Townend currently serves as BOC Aviation's chief commercial officer for Europe, Americas and Africa.