COFCO International names Luan as new chairman

PARIS, Nov 22 (Reuters) - Grain trading group COFCO International named Richeng Luan as its new chairman, succeeding Jingtao (Johnny) Chi who stood down to join another Chinese state-controlled grain firm.

Luan has served as vice-president of COFCO Corporation, the majority owner of COFCO International, since 2016, responsible for the group’s grains and oilseeds, sugar and cotton businesses, COFCO International said in a statement.

He is already chairman of several COFCO subsidiaries including COFCO Trading, China Agri and Chinatex, it added.

Chi stepped down as COFCO International chairman after being appointed last month as general manager of Sinograin, which manages China’s state reserves of corn, wheat and soybeans.

He had previously served as COFCO International’s chief executive, overseeing the integration of two major overseas acquisitions.

Chi’s successor as CEO, Wei (David) Dong, has been appointed vice-chairman of COFCO International, the company added. (Reporting by Gus Trompiz; Editing by Sudip Kar-Gupta)