October 8, 2018 / 7:46 AM / 10 days ago

China's Weiqiao chairman retires, son takes over: media

BEIJING (Reuters) - The chairman of China’s Weiqiao Pioneering Group, parent company of the world’s top aluminum producer China Hongqiao, has retired and will be succeeded by his son, the government-backed Beijing News reported on Monday.

Zhang Bo, who was chairman and general manager at China Hongqiao, will take over from the 72-year-old founder of Weiqiao, Zhang Shiping, according to the newspaper, which cited unidentified company sources.

Meanwhile, Zhang Hongxia, daughter of Zhang Shiping, will become Communist party chief at Weiqiao Pioneering, typically the second most significant position in Chinese companies. She was chairwoman of Weiqiao Textile Co.

Weiqiao Pioneering did not response an emailed request for comment. Its two listed companies did not file statements to the Hong Kong stock exchange.

Based in eastern province Shandong, Weiqiao was the third largest privately owned company in China by revenue last year, followed by Huawei Technologies Co [HWT.UL] and Suning Holdings Group Co. As well as aluminum production, it’s involved in textiles, printing and power generation.

Reporting by Muyu Xu and Dominique Patton; Editing by Kenneth Maxwell

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