(Yicai Global) Sept. 26 -- Renowned Chinese female entrepreneur Dong Mingzhu, president of Chinese air conditioning giant Gree Electric Appliances Inc. of Zhuhai [SHE:000651], may not remain in the position after the end of her tenure on May 31, 2018, Securities Daily quoted industry insiders as saying on Sept. 26.

The firm, headquartered in China's southern Guangdong Province, may internally elect a successor to Dong next year.

Dong, now 64 years old, could resign from her position as president next year but remain company chair, Securities Daily reported.

She joined Gree in 1990, and held posts as head of operations and sales manager. Dong took over as president in 2007 and was elected chair of controlling shareholder Gree Group China Ltd. in 2012. She stepped down as group chair last year.

Gree Electric appointed chief engineer Huang Hui as its first executive president in August 2017. Insiders consider the position to be second in authority only to the company president, increasing the likelihood of Huang becoming president in the future.

Huang joined Gree Electric in 1992, and has led research and development operations as chief engineer since 2007. He became director of the board in 2012 and took up the post of executive vice president in 2014.