CNOOC Makes Management Changes; CEO Resigns

CNOOC Limited has announced several changes in the company’s management team effective from April 18, 2017.

The company’s chief executive officer Yang Hua has resigned from the position, but remains on the position of the chairman of the board. He was appointed as chairman of CNOOC in April 2015.

Furthermore, CNOOC has re-designated Yang Hua as a non-executive director.

Yang joined CNOOC in 1982 and has over 30 years of experience in petroleum exploration and production.

In addition, the company has appointed Yuan Guangyu, an existing executive director, as the new chief executive officer.

Yuan has also resigned as the president of the company with effect from April 18, 2017.

To replace Yuan an the positions of executive director and president of the company, CNOOC has appointed
Xu Keqiang.

“The board of the company would like to thank Yang for his outstanding contributions to the company during his term of office as the chief executive officer,” CNOOC said.

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