Following ne ws of China Mobile chairman Xi Guohua’s retirement, China Telecom and China Unicom announced on Monday they have swapped chairmen.
Wang Xiaochu has stepped down as chairman and CEO of China Telecom, and has taken the helm at China Unicom, while China Unicom chairman and CEO Chang Xiaobing has gone in the exact opposite direction to become China Telecom’s new chairman and CEO.
The changes are effective immediately.
"The board would like to express its sincere gratitude to Mr Wang Xiaochu for his valuable contribution to the company during his tenure of office," said a statement from China Telecom.
A statement from China Unicom expressed similar sentiments about Chang Xiaobing.
Earlier on Monday, China Mobile, the country’s number one operator by subscribers, confirmed the retirement of its chairman Xi Guohua, who has been replaced by Shang Bing, who was previously vice minister at the Ministry of Industry and Information Technology (MIIT).
"The board takes this opportunity to acknowledge the contribution of Mr Xi to the company with the highest regard and deepest gratitude," said China Mobile, in a statement.
