China Telecom CEO Steps Down
Chang Xiaobing, the chairman and CEO of China Telecom, has resigned with immediate effect following the announcement on December 27 that he was under investigation for "suspected serious disciplinary violations."
News of his resignation was announced in a filing to the Hong Kong Stock Exchange.
Yang Jie, China Telecom's president and chief operating officer, has taken over as interim chairman and CEO until a new permanent appointment is made.
Chang's reign as the head of China Telecom Corp. Ltd. (NYSE: CHA) was short lived: He took on the role when he joined from the country's third operator, China Unicom Ltd. (NYSE: CHU), in late August as part of an upheaval of China's state-controlled telecom sector. (See All Change in China? )
China Telecom, which along with China Mobile and China Unicom has been investing heavily in 4G access and supporting transport infrastructure during the past year, ended November with 196.6 million mobile customers and 112 million fixed line users.
— Ray Le Maistre, , Editor-in-Chief, Light Reading