(Yicai Global) March 15 -- Chinese telecommunications equipment maker Zhongxing Telecommunication Equipment Corp. [SHE:000063; HKG:0763] (ZTE Corp.) said Zhao Xianming, its former president, has resigned as chairman, with Yin Yimin set to take over. The move aims to improve corporate governance by differentiating the role of chairman and president, ZTE Corp. said.
Per public information, Yin, 54, joined ZTE in 1991 and served as its president from February 2004 to 2010. After temporarily leaving in 2010, Yin has been the chairman of ZTE Holdings Co., the controlling shareholder of ZTE Corp., since 2015.
Zhao will continue to hold his position as executive director and president, the company said yesterday.