China State Shipbuilding Corporation appoints chairman and board of directors for first time
By Jon Grevatt
The China State Shipbuilding Corporation (CSSC), China's largest shipbuilder, has appointed its first board of directors and chairman to boost its international competitiveness.
A statement by the group on 9 August said Hu Wenming had been named chairman of CSSC and will lead a board of five directors appointed by the state-owned Assets Supervision and Administration Commission (SASAC), an authority under the State Council responsible for the management of state assets.
Hu had previously been interim president of CSSC and had led a group of vice-presidents that reported directly to SASAC. Some of the responsibilities previously overseen by SASAC will now be transferred to the board of directors and chairman to increase accountability and create what CSSC termed as a "modern state-owned enterprise with Chinese characteristics".
Before joining CSSC in 2010 as vice-president, Hu served as a senior manager with two other state-run defence enterprises the Aviation Industry Corporation of China (AVIC) and the China North Industries Group Corporation.
CSSC said the move to create the board of directors is intended to install modern leadership systems into the company in order to enhance corporate development and "build [its] international competitiveness".190 of 414 words
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