Qingdao Port International (QPI) has initiated a high-level reshuffle that sees Zhang Jiangnan replacing Jiao Guangjun as president.
According to an exchange filing, Zhang, who had been a non-executive director for QPI since early June, was appointed president and executive director on Wednesday.
The appointments came after Jiao resigned as president due to “changes in work arrangements”, the filing said, without elaborating. Jiao will remain as the Hong Kong-listed company’s vice chairman after being re-appointed as a non-executive director.
Zhang, 50, also serves on the boards of various QPI affiliates including Qingdao Shihua Crude Oil Terminal, Qingdao New Qianwan Container Terminal, and Qingdao International Cruise.
Having obtained a bachelor’s degree in engineering from Shanghai Jiao Tong University, Zhang joined the Qingdao Port Authority as an engineer in 1989 before rising through ranks.
“Zhang has over 28 years of working experience in the port industry, and is experienced in managing large-scale port enterprises,” QPI said.
Zhang will have a pre-tax salary of at least CNY200,000 ($29,000) per annum on top of performance-related bonuses, the filing said.
QPI is the main port operator of Qingdao, one of the world’s 10 busiest ports in terms of total cargo throughput.
