Li Hanyang, the chairman of Yuchai’s board of directors, will continue to lead the business and its affairs. The company’s daily business operations remain uninterrupted. Chen Hai, a vice president of Yuchai will help carry out the role of president in Wu’s absence.
China Yuchai, on Oct 28, announced that Wu Qiwei has resigned as a director of the company. Wu, whose resignation took effect from Oct 27, also stepped down from his role as director of the company’s main operating subsidiary, Guangxi Yuchai Machinery Company Limited.
Wu was said to be one of the employees who was detained by authorities in China. According to an Oct 20 release, the reason for these actions and charges against the individuals has not been verified.
