KHD Humboldt Wedag International AG (KWG.DE), a German engineering company, said on Tuesday that its Supervisory Board has informed the Management Board of the resignation of Chief Executive Officer Jianlong Shen. The company has also appointed Heng Xiang as the new Chairman and CEO, both effective from December 20.
Shen will step down from the role as both Chairman and member of the Management Board.
The company said the leadership transition aims to ensure continuity and stability in its strategic direction.
KHD Humboldt Wedag International AG is currently trading 6.5217% lesser at 1.7200 euros on the XETRA.
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