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Financials

MOVES-China's Chalco promotes president to top job after chairman resigns

Beijing, Feb 21 (Reuters) - Aluminum Corp of China Ltd , known as Chalco, said on Thursday its chairman Yu Dehui had resigned and been replaced by the company’s president, Lu Dongliang.

The appointment to the top job marks a rapid promotion for the 45-year-old Lu, who had only served as president at Chalco, the listed arm of China’s biggest state-owned aluminium firm Chinalco, for one year.

Lu is himself replaced as president by 56-year-old He Zhihui, who previously served as assistant to the general manager at Chinalco.

The changes continue a management reshuffle at Chalco, which on Wednesday announced the retirement of chief financial officer Zhang Zhankui. His replacement was named as 48-year-old Wang Jun.

Explaining Yu’s resignation, Chalco said in a statement to the Hong Kong stock exchange that the 59-year-old, who took on the chairman’s role in April 2016, needed to “devote himself to the management work” of Chinalco, where he serves as general manager and a director. (Reporting by Tom Daly; editing by Alexandra Hudson)

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