Yantai, China – Wanhua Chemical announced Liao Zengtai, 53 is the new chairman of its controlling shareholder Wanhua Industrial. Liao will take the post and a week later at Wanhua Chemical.
Liao also replaced 62-year old Ding Jiansheng, as the listed arm’s chairman. Ding left the president position at the parent group as well.
“The new president [of the parent company] hasn’t been appointed yet,” Wanhua told UTECH-polyurethane.com. “The previous leadership’s age is the reason for this charge and it will not lead to any adjustment to the company’s business.”
Working with Wanhua since its early stage, Liao joined its polyurethane leather precursor business as an engineer, and served as chief engineer of Yantai Wanhua Polyurethane and general manager of Ningbo Wanhua Polyurethane before rising to president of Wanhua Chemical.