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Citic Envirotech CEO to step down, succeeded by exec chairman

ENVIRONMENTAL engineering company Citic Envirotech announced on Tuesday that chief executive Lin Yucheng will step down on June 1, 2018.

Dr Lin will become a non-executive director of the company, which he has helmed as chief executive since founding it in 2003.

In a media statement, Dr Lin said he was "extremely proud" of what the company had achieved, but it was his "personal belief" that he should step aside from daily operations and hand over the role to the group's current executive chairman Hao Weibao.

In his new role, Dr Lin will be an adviser to the group due to his "unique insights and inspiration".

Mr Hao thanked Dr Lin for his 15 years of service and leadership, which he described as an "outstanding performance".

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"He has demonstrated remarkable talent and skill in guiding CEL (Citic Envirotech) to its position as a leading integrated environmental service provider in China," Mr Hao said.

Citic Envirotech's counter ended trading at S$0.68 on Tuesday, down 1.45 per cent.

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