Zhang Chao to retire as CEO of Zheneng Jinjiang Environment

ZHENENG Jinjiang Environment's chief executive Zhang Chao will step down on Nov 10, after three years with the waste-to-energy company.

A bourse filing on Thursday said that Mr Zhang, who is also the company's executive director, will be retiring upon the expiration of his service contract with the company.

The company did not announce his replacement, but said it will provide updates to its shareholders when a new chief executive is appointed. 

Mr. Zhang was appointed as the chief executive  in November 2017, and as an executive director in April 2018.

"The board would like to thank Mr Zhang Chao for his dedicated service and contributions to the company. He will remain as an executive director and the CEO of the company until his retirement takes effect, and he will work closely with the board and the management of the company to achieve a smooth transition," it said.

Shares of Zheneng Jinjiang closed down one Singapore cent, or 1.67 per cent to S$0.590 on Thursday, before this announcement.