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China Mobile Chairman Wang to Retire From Parent, Caixin Says
China Mobile Communications Corp. (CHMOBZ) Chairman Wang Jianzhou will retire tomorrow and be replaced by vice-chairman Xi Guohua, Caixin reported, citing internal communications at the phone carrier.
The change will extend the role of Xi, who is also Communist Party secretary at China Mobile, according to the report. Rainie Lei, a Hong Kong-based spokeswoman at the carrier, didn’t immediately reply to phone calls and an e-mail seeking comment.
Wang, 63, has overseen operations at China Mobile since joining the nation’s biggest wireless carrier in 2004 from smaller rival China United Telecommunications Corp. Xi, a former vice minister of Industry and Information Technology, joined China Mobile last year.
China Mobile Ltd. (941), the Hong Kong-listed unit of state-owned China Mobile Communications, rose 2.5 percent to HK$83.20 as of 2:29 p.m. local time today, compared with a 0.3 percent drop in the benchmark Hang Seng Index.
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