On April 7, Singapore-listed Yangzijiang Shipbuilding announced that Ren Yuanlin will step down as executive chairman. Ren Letian, the current CEO and son of Ren Yuanlin, would take over.
Ren Lotian is currently responsible for the overall shipbuilding business of Yangzijiang Shipbuilding. After being appointed as the executive chairman, he will still retain the position of CEO.
Yangzijiang Shipbuilding also announced the appointment of Deputy General Manager Song Shuming as executive director and Toe Teow Heng as independent non-executive director.
Ren Yuanlin holds a 21.69% stake in Yangzijiang Shipbuilding, including 0.08% direct equity and 21.51% indirect equity in Yangzijiang International Holdings Limited.
From September to December last year, Ren Yuanlin assisted relevant departments in confidential investigation, during which Ren Letian took the lead.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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