Kunlun Energy Chairman Quits as China Widens Graft Probe
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The chairman of Kunlun Energy Co., a gas distribution arm of China National Petroleum Corp., resigned amid a widening government anti-corruption campaign that claimed his predecessor four months earlier. Its shares declined.
Wen Qingshan quit with immediate effect as both chairman and director of the company due to personal matters, Kunlun said in a statement to the Hong Kong stock exchange yesterday. Executive Director Zhang Bowen will assume the chairman’s duties, it said.