It is reported that China National Petroleum Corporation the parent of PetroChina announced the appointment of general manger Mr Jiang Jiemin as chairman.

Mr Zhou Jiping CNPC deputy general manager was selected to replace Jiang as the general manager of CNPC and was appointed as a director. Mr Jiang is also the chairman of PetroChina since May 2007.

The State owned Assets Supervision and Administration Commission released guidelines in 2009 calling for the establishment of a board system in state-owned enterprises.

The guidelines required the posts of chairman and general manager to be held by different individuals. According to an insider and the reshuffle was made in order to comply with the guidelines.

(Sourced from yicai.com)