WATER supply company SIIC Environment : BHK 0%has announced the appointment of Zhu Dazhi as its new chief executive officer.

The 46-year-old was the deputy general manager of SIIC Management (Shanghai) from March 2021 to September 2023. He was also the deputy general manager of Shanghai Galaxy Investments from June 2019 to March 2021.

As CEO, he will manage the group’s strategy, business, operations, administration and financial matters. He will also chair the SIIC Environment’s executive committee, and its risk and investment management committee.

He replaces Yang Jianwei, who has been the company’s CEO since January 2021. Yang, 52, has stepped down from his role due to “redesignation” of his work.

He will remain as an executive director in SIIC Environment, where he will be responsible for coordinating key projects of the group.

He will stay on as a member of the executive committee and also the risk and investment management committee.

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Yang has confirmed that he has no disagreement with the board, and that there are no other matters related to his departure that need to be flagged to shareholders or the Singapore and Hong Kong bourses, SIIC Environment added.

Shares of SIIC Environment closed S$0.002 or 1 per cent lower at S$0.198 on Thursday, before the announcement.