Huadian Fuxin Says Chairman Huang, 3 Directors Have Resigned

Huadian Fuxin Energy Corp., the renewable power generator up 28 percent since its initial share sale in June, said Chairman Huang Xianpei and three directors resigned.

Huang Shaoxiong, an executive director, and non-executive directors Mao Xishu and Wang Xuxiang, also quit yesterday due to the group’s redeployment of human resources, the Fuzhou, China- based company said in a statement released today and dated yesterday. It didn’t name a new chairman.

The departing executives have confirmed that “they have no disagreement with the board and they are not aware of any matter relating to their resignations that need to be brought to the attention of the shareholders,” the company said.

Huadian Fuxin rose 4.3 percent to HK$2.17 at the close in Hong Kong. It’s advanced 48 percent this year, compared to the 2.8 percent decline in the benchmark Hang Seng Index.

“The new chairman will be an internal transfer,” Jessie Bok, a spokeswoman for Huadian Fuxin at Wonderful Sky Financial Group, an external public relations firm, said in an e-mail. The appointment will be made as soon as possible, she said.

A receptionist at state-owned China Huadian Corp., the company’s parent and largest shareholder, said no one was available to comment and declined to give her name when contacted by phone in Beijing.

Huang was assistant to the general manager at the parent when Huadian Fuxin first sold shares in June, according to the prospectus. The three other directors also held positions at China Huadian at that time.

Huadian Fuxin plans to have installed capacity of 15,000 megawatts by 2015 and become the largest clean energy company in China, according to its website.

To contact the reporter on this story: Benjamin Haas in Hong Kong at bhaas7@bloomberg.net

To contact the editor responsible for this story: Jason Rogers at jrogers73@bloomberg.net

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