Yangzijiang Shipbuilding (Holdings) Ltd. announced the appointment of Ren Letian as new chief executive officer of the group. The Board has reviewed and assessed Mr. Ren Letian's qualification and working experience rationale, selection criteria, and the search and nomination with the Group for 9 years and in his current role as General Manager of Jiangsu New Yangzi Shipbuilding Co. Ltd. Mr. Ren Letian will assume the new role as CEO with effect from 1 May 2015 as part of the management renewal.

The company's current CEO will still remain as Executive Chairman and continue to head the Board of Directors to take part in strategic planning and perform other related duties. The appointment is executive; Mr. Ren Letian will assume the role of Chief Executive Officer of the Group who is responsible for the smooth functioning of the Board and ensures timely flow of information between Management and the Board, particularly on strategic issue and ensures promoting high standards of corporate governance are in place. Mr. Ren Letian also assumes the responsibility of running the day-to-day business of the Group and ensures implementation of policies and strategies across the Group as well as leading the development of the future strategies of the Group.