Shanghai-listed Ningbo Port Group has nominated Song Yueshun as its new president and chairman.
Song’s nomination on 29 April has been approved by the board of directors of Yangzijiang and Song will assume the new post as soon as possible, stated the company in its filing to the Shanghai Stock Exchange.
Song, born in 1962, graduated from Ningbo University. He has served as the mayor of Fenghua City in Zhejiang Province, the director of Ningbo Finance Bureau, as well as the chairman of Ningxing Group. Song has been the director of Ningbo Port Group since 26 May 2014.
Xu Huajiang, the former chairman of Ningbo Port Group, put forward his resignation on 20 March. Xu is currently under investigation for suspected serious disciplinary violation, according to the Zhejiang Commission for Discipline Inspection.
Xu stepped up as chairman of Ningbo Port Group in February, 2014. Before joining the port group, he worked in different positions at the Ningbo Municipal Government.
Ningbo Port Group posted a profit of CNY2.81 billion (USD453 million) for the whole year of 2014, down 0.91% year on year, and received subsidies of CNY122 million for local government.