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COO Chang Jie becomes interim chief following Chang Xiaobing’s departure.
China Telecom chairman and CEO Chang Xiaobing has resigned after he became the subject of a corruption investigation by Chinese authorities.
Chief operating officer Chang Jie has become acting chairman and CEO until a permanent replacement is appointed. The changes became effective on 30 December.
"Mr. Chang has confirmed that he has no disagreement with the board and there is no other matter in relation to his resignation that should be brought to the attention of the shareholders," said China Telecom, in a statement last week.
Xiaobing’s resignation came days after China Telecom confirmed he is being probed by the Central Commission for Discipline Inspection and the Ministry of Supervision of the People’s Republic of China.
In a statement dated 27 December, China Telecom said Xiaobing "is currently under investigation…for suspected serious disciplinary violations."
"Serious disciplinary violations" has become a standard term used by Chinese authorities to describe a corruption probe involving senior executives.
Xiaobing joined China Telecom from rival telco China Unicom in late August, as part of a management reshuffle at the country’s big three telcos.
Xiaobing’s predecessor, Wang Xiaochu, took the helm at China Unicom, while Shang Bing, a former vice minister at the Ministry of Industry and Information Technology (MIIT), took over at China Mobile upon incumbent Xi Guohua’s retirement.
