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China Telecom Announces Resignation Of CEO, Notes 'No Other Matter' Should Be Brought To The Attention Of Shareholders

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Shares of China Telecom Corporation Limited (ADR) (NYSE: CHA) were trading lower by 0.57 percent Wednesday morning after the company announced the resignation of its CEO, executive director, and chairman Chang Xiaobing.

Xiaobing has been the subject of an investigation by China's Central Commission for Discipline Inspection, according to the BBC.

China Telecom's board of directors said that Xiaobing "resigned from his positions" as of December 30. The executive also "confirmed that he has no disagreement with the Board."

China Telecom's board also stated "there is no other matter in relation to his resignation that should be brought to the attention of the shareholders of the Company."

 

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Posted-In: Chang Xiaobing China Anti Corruption China TelecomNews Management

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