Change of guard at Valin Group as Mr Cao replaces Mr Li
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Sunday, 30 Oct 2011
Hunan Valin Iron & Steel Group said that its chairman Mr Li Xiaowei stepped down because of his age.
Mr Cao Huiquan the general manager of Hunan Valin Steel Co, the public-traded unit of Valin Group, has been appointed as the replacement for Mr Li.
Valin Steel, part-owned by ArcelorMittal, the world's biggest steelmaker, yesterday reported a profit of CNY 44.9 million in the third quarter, the first profit in seven straight quarters.
(Sourced from Bloomberg)
