Enterprise reform to revamp managements
Chinese companies are expected to undergo management reshuffles, as Beijing introduces modern enterprise reform.
Among those listed in Hong Kong, Luoyang Glass Co and Shanghai Hai Xing Shipping Co already have announced a restructuring of senior management and directors' boards.
Luoyang Glass director Guo Hongtai said the change was in line with the reform which required a split of execution, policy-making and supervisory functions.
He said the management would execute decisions made by the board of directors, while the supervisory committee had been separated.
Mr Guo, who was the company's deputy general manager and chief accountant, now bears the title of director.
Chairman Guo Xiaohuan has resigned as general manager.
Guo Hongtai said the new management comprised six people, three managers and three senior executives, with the latter responsible for finance, technology and processed-glass products.
China wants to breathe fresh air into the moribund state sector by revamping management of the enterprises.