CNOOC Limited (CEO) said it appointed Li Fanrong as its new chief executive officer. Also, the board announced that, Yang Hua resigned as CEO of the company, due to his responsibility as the President of China National Offshore Oil Corporation which requires more of his time.
Accordingly, Yang Hua was re-designated from an Executive Director to a Non-Executive Director of the company. Further, Yang continues to serve as the Vice Chairman of the board and would mainly focus on the strategy of the company.
Wang Yilin, the company's chairman commented, "Mr. Li has served the Company for more than 20 years, and has accumulated abundant operation and management experiences in offshore oil and gas development. I firmly believe Mr. Li has the capability to lead the Company and to create more value to our shareholders."
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