DOMINIC LEUNG Insurer has new chief

Dominic Leung, 56, of Hong Kong, became the first non-mainlander to take the reins of a life insurance company based in the Chinese mainland.

Leung last Monday was appointed chairman and chief executive officer of Ping An Insurance (Group), one of the mainland's largest insurers. Leung, formerly with Prudential Corp Asia, has more than 30 years of experience in the insurance industry. Under his leadership, Prudential became one of Taiwan's three-largest insurance companies.

He also spent 11 years with AIA in Taiwan.

Ping An, with nearly half of its top managers from overseas, has been determined to have an international management team.

WU YAOWEN

Personnel reshuffle

Wu Yaowen, vice-chairman of the board of directors of PetroChina Co Ltd, was removed from office last Tuesday by the State-owned Assets Supervision and Administration Commission.

PetroChina made the announcement last week during the company's annual working conference. Senior officials said Wu had been removed because he was nearing retirement.

PetroChina is one of the country's major State-owned petrochemical companies.

Wu, aged 60, also vice-president of the China National Petroleum Corp Group, has more than 30 yearsexperience in China's oil and gas industry.

Wu had been a director of the company since November 5, 1999, and vice-chairman of the board of directors since December 3, 2002.

(Business Weekly 01/13/2004 page1)