Expert leadership talents have risen to the top, with recent personnel changes in 20 central enterprises

Since the beginning of this year, many executives of central enterprises have initiated intensive personnel adjustments. Red Star Capital Bureau noticed that in September alone, the State owned Assets Supervision and Administration Commission (SASAC) released information on the adjustment of leadership personnel in 20 central enterprises.

According to the information released in September, the recent adjustment of the leaders of 20 central enterprises involves China First Automobile Group Co., Ltd., State Power Investment Group Co., Ltd., National Energy Investment Group Co., Ltd., China Electronics Information Industry Group Co., Ltd., China Grain Reserve Management Group Co., Ltd., China Railway Construction Group Co., Ltd., China Communications Construction Group Co., Ltd., China Building Materials Group Co., Ltd., China Guanghe Group Co., Ltd., China middling coal Energy Group Co., Ltd., China Coal Science and Engineering Group Co., Ltd., China Steel Research Group Co., Ltd., China Youyan Technology Group Co., Ltd., Mining and Metallurgy Technology Group Co., Ltd., China Academy of Building Sciences Co., Ltd., CRRC Group Co., Ltd., China Railway Communication Signal Group Co., Ltd., and China Pharmaceutical Group Co., Ltd., China Metallurgical Geology Administration, Xinxing Jihua Group Co., Ltd.

Red Star Capital Bureau has found that the latest personnel appointment and dismissal news shows that China FAW has welcomed a new leader, while State Power Investment Corporation and National Energy Group have both welcomed "second in command" after being vacant for nearly a year.

Li Jin, Vice Chairman and Chief Expert of the State owned Enterprise Management Think Tank, told the Red Star Capital Bureau that from the recent adjustment, the smooth succession of "Vice General Manager General Manager Chairman" and high educational level are the characteristics of high-level changes in central enterprises in recent times.

Most of the adjusted individuals have worked in two or more companies, then went from vice president to deputy secretary and general manager, and later served as chairman. Li Jin pointed out that currently, the proportion of such personnel changes is relatively large, which is also conducive to a smooth transition of the enterprise.

In addition, high educational levels and expert leadership talents are also a characteristic of personnel changes in central enterprise leaders. For a long time, in technical positions, the number of leaders who understand business has significantly increased.

The new leader of China FAW has been confirmed

The leader of FAW Group has recently settled the dust.

According to the official WeChat account of China FAW, on August 31, 2023, FAW held a meeting for middle-level and above management personnel. The relevant officials of the Organization Department of the Central Committee of the Communist Party of China have announced the central decision on the adjustment of the main leadership of China First Automobile Group Co., Ltd. Comrade Qiu Xiandong will be appointed as the Chairman and Party Secretary of China First Automobile Group Co., Ltd., and his position as General Manager of China First Automobile Group Co., Ltd. will be dismissed.

On February 28th this year, Xu Liuping, former Chairman and Party Secretary of China FAW, was transferred to the position of Party Secretary of the All China Federation of Trade Unions. The work of China FAW has always been presided over by Qiu Xiandong, then General Manager of China FAW. After presiding over the work for six months, Qiu Xiandong was promoted from the General Manager of China First Automobile Group Co., Ltd. to the Chairman and Party Secretary of China First Automobile Group Co., Ltd.

Qiu Xiandong is 54 years old this year, born in November 1969. After graduating from the Department of Mechanical Engineering at Tsinghua University in 1993, he joined Dongfeng Motors. In May 2017, Qiu Xiandong was transferred from Dongfeng Company to China FAW as a member of the Party Committee Standing Committee and Deputy General Manager. In July 2020, Qiu Xiandong was appointed as the Director, General Manager, and Deputy Secretary of the Party Committee of China First Automobile Group Co., Ltd.

Just recently at the World Power Battery Conference, Qiu Xiandong made it clear that FAW Group will "ALL IN" new energy from this year onwards, with all future technological innovation investment being used for new energy intelligent vehicles and all new production capacity being used for new energy vehicles. He will stop the new investment in traditional fuel vehicle technology and production capacity, and strive to exceed 1.45 million new energy vehicles produced and sold by FAW Group by 2025, with domestic brands accounting for more than 50%.

Red Star Capital Bureau found that previously, the leaders of central enterprises underwent intensive adjustments. On June 18th alone, three central enterprises, namely China Aerospace Science and Industry Corporation, China General Technology Holding Co., Ltd., and China Ordnance Equipment Group Co., Ltd., completed their changes on the same day.

Vacancies in the past year

Multiple central enterprise groups welcome "second leaders"

State Power Investment Group Co., Ltd. and State Energy Investment Group have welcomed new "second leaders".

On August 31st, the official WeChat account of State Power Investment Corporation announced that the company held a leadership meeting in the morning of that day. At the meeting, the officials in charge of the Cadre Bureau of the Organization Department of the Central Committee announced the central decision to appoint Li Baoqing as the General Manager of the State Power Investment Corporation. Prior to this, the position of General Manager of State Power Investment Corporation had been vacant for over 11 months.

Li Baoqing was born in 1965 and graduated from the Finance Science Research Institute of the Ministry of Finance with a doctoral degree. He is a senior accountant and mainly works in the power system. In August 2022, Li Baoqing was transferred from Ansteel Group to State Power Investment Group, serving as a director and deputy party secretary of State Power Investment Group.

On September 1, 2023, National Energy Investment Group Co., Ltd. held a leadership meeting. Entrusted by the leadership of the Central Organization Department, the officials in charge of the relevant cadre bureaus of the Central Organization Department have announced the central decision on the appointment of General Manager of National Energy Investment Group Co., Ltd. Comrade Yu Bing will be appointed as a director, general manager, and deputy secretary of the Party Group of National Energy Investment Group Co., Ltd. The appointment and removal of relevant positions shall be handled in accordance with the provisions of relevant laws and articles of association.

Yu Bing, who is 55 years old, holds a Bachelor's degree in Thermal Energy Engineering from Xi'an Jiaotong University and a Master's degree in Business Administration from Tsinghua University as a Senior Engineer. Prior to this adjustment, Yu Bing served as a member of the Party Group and Deputy Director of the National Energy Administration, responsible for the Legal and Institutional Reform Department, Electric Power Department, Nuclear Power Department, New and Renewable Energy Department, Electric Power Safety Supervision Department, China Nuclear Power Development Center, Dam Safety Supervision Center, and Electric Power Reliability Management and Engineering Quality Supervision Center.

On September 2nd last year, Liu Guoyue, former general manager of National Energy Group, succeeded Wang Xiangxi as chairman and party secretary of the company. So far, the position of General Manager of National Energy Group has been vacant for one year.

The average age of external directors exceeds 60

Since the beginning of this year, many central enterprises have initiated external director personnel adjustments. According to the information released in September, it involves China National Building Materials Group Co., Ltd., China General Nuclear Corporation Limited, China National Nuclear Industry Group, China Electronics Technology Group, etc.

Specifically, Wang Laixiang and Cao Guangxiang were appointed as external directors of China National Building Materials Group Co., Ltd; Appoint Ma Li, Ning Fushun, and Wei Suo as external directors of China General Nuclear Corporation Limited; Appoint Shao Kaiwen, Duan Hongyi, Chen Guoqing, and Ouyang Qian as external directors of China National Nuclear Corporation Limited; Appoint Li Yue, Shi Jianzhong, Liu Caiming, Guo Yonghong, and Cao Guangxiang as external directors of China Electronics Technology Group Co., Ltd.

In February of this year, the State owned Assets Supervision and Administration Commission (SASAC) announced the appointment and removal of external directors and full-time external directors of 13 central enterprises.

The external director system is an important initiative launched by the State owned Assets Supervision and Administration Commission of the State Council to establish and improve the pilot program of the board of directors and further standardize the construction of the board of directors. According to the "Trial Measures for Implementing Equity Incentives in State Owned Listed Companies" issued in 2006, external directors refer to directors nominated and recommended by state-owned controlling shareholders in accordance with the law, and appointed by personnel outside the company or holding company. According to the retirement age regulations for external directors of central enterprises, the retirement of external directors of central enterprises is mainly divided into two types. Among them, when full-time external directors are first appointed, their age generally cannot exceed 57 years old; When appointed as a part-time external director for the first time, the age should generally not exceed 65 years old, and they can also serve after retirement.

Based on the publicly available resumes of the aforementioned external directors, Wei Suo is 64 years old, Ning Fushun is 56 years old, Li Yue is 64 years old, Shi Jianzhong is 57 years old, Shao Kaiwen is 66 years old, and Duan Hongyi is 60 years old, with an average age exceeding 60 years old.

Red Star Capital Bureau found that as of July this year, the State owned Assets Supervision and Administration Commission had appointed at least 66 external directors. From the age composition of external directors, roughly calculated, the average age is over 60 years old.