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.
With Wu’s resignation, China Yuchai will now have eight directors, of whom three are independent directors.
Shares in Hong Leong Asia, which owns a 48.7% stake in Yuchai, closed 1 cent lower or 0.42% down at $2.37 on Oct 28. China Yuchai’s shares last traded on the NYSE US$2.45 higher or 6.61% up at US$39.50.
