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PetroChina board chairman resigns

Wang Yilin has resigned as board chairman and director of Chinese integrated oil and gas company PetroChina Co. Ltd., effective immediately, according to a Jan. 19 news release.

The retirement was due to Wang's age, according to the release. Wang is also no longer serving as chairman of the board's nomination committee.

Following Wang's resignation, the board's size has fallen to eight members, which is below the minimum number of 11 required by the company's articles of association. PetroChina said it plans to identify candidates and fill the vacancies as soon as possible.