CNOOC Limited announced Wednesday that Yang Hua has been appointed as its new CEO, effective immediately.
Hua remains chairman of the company. In addition to this new appointment, Wu Guangqi has resigned as compliance officer of the company and Yuan Guangyu has been appointed as the new president and executive director. Li Fanrong has resigned from his position as CEO, president and executive director and Chen Wei has been appointed as compliance officer and general counsel.
“The board of directors would like to express their appreciation and gratitude to Mr. Li Fanrong for his outstanding contributions to the company over the past few years, and wish Mr. Li all the best in his new position,” said a CNOOC company statement.
“Together with Mr. Yuan and the management, I will lead the company to proactively tackle the challenges of low oil prices, adjust our development concept in a timely manner, and promote the Company’s sustainable development to create greater value for our shareholders.” Said Yang Hua, chairman and CEO of CNOOC Limited, in a company statement.
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