China Telecom CEO under probe for 'disciplinary violations'

News General China 28 DEC 2015
China Telecom CEO under probe for 'disciplinary violations'

China Telecom announced that Chang Xiaobing, the former chairman of China United Network Communications Group and the current chairman of China Telecom, is under investigation by the Chinese authorities for suspected "serious disciplinary violations". Xiaobing is chairman of the board and CEO of China Telecom. China Telecom said the company maintains normal business operations despite the investigation.

Shares in China Telecom dropped 3 percent on 28 December following the news, AFP reports. The investigation into "severe disciplinary violations" was announced by the Central Commission for Discipline Inspection, the watchdog of the ruling Communist Party. The term is normally a euphemism for graft.

Chang had been "taken away", according to an article in the business magazine Caijing, adding that he disappeared days before a meeting of the state-owned company planned for 28 December. Chang's phone was switched off and he had not responded to multiple calls, it added.

 

Categories:

General

Companies:

China Telecom

Countries:

China

Tags:

Government policy, Legislation - Lawsuits, Officers & directors

Related Articles

CHINA 28 APR 2016

China Telecom reports Q1 EBITDA down 2.9%

China Telecom reported a 2.9 percent fall in EBITDA for the first quarter to CNY 23.81 billion, hurt by additional costs for outsourcing towers infrastructure and marketing fibre and 4G offers. Operating revenues were still up 6.1 percent year-on-year to CNY 86.43 billion, and service revenues rose 5.0 percent to CNY 76.36 billion. The net profit increased 1.4 percent to CNY 4.12 billion, helped by a sharp fall in interest expenses. 

CHINA 12 APR 2016

China Telecom CEO resigns amid discipline probe - report

China Telecom has appointed Yang Jie as its chairman. He will replace Chang Xiaobing, who resigned from his position amid an ongoing investigation, Shanghai Daily reports. Xiaobing resigned after he was "suspected of serious violation of discipline" in December, according to an  industry watchdog. The authority has not releases its final investigation results yet.

CHINA 23 MRT 2016

China Telecom FY revenues up 2% on 4G, FTTH expansion

China Telecom reported net profit for 2015 up 13.4 percent to CNY 20.05 billion. The result was helped by a one-time gain of CNY 3.94 billion from the transfer of towers and other infrastructure to a new joint venture with China's other two mobile operators. Revenues rose 2.1 percent to CNY 331.20 billion, while EBITDA fell 0.8 percent to CNY 94.11 billion, hurt by a number of regulatory changes and higher costs. Revenue growth was led by the mobile market, where service revenue was up 3.5 percent to CNY 12

CHINA 30 DEC 2015

China Telecom CEO resigns

China Telecom has announced the resignation of chairman and CEO Chang Xiaobing from 30 December. COO Yang Jie will act as interim CEO until a final appointment is made by the company's board.

CHINA 28 DEC 2015

CEO van China Telecom zit vast op verdenking corruptie

China Telecom meldt dat topman Chang Xiaobing onder verdenking staat van de Chinese autoriteiten. De voormalig voorzitter van China United Network Communications Group en huidige voorzitter en CEO van China Telecom zou zich hebben schuldig gemaakt aan "serieuze disciplinaire overtredingen". China Telecom zegt dat het bedrijf op de gewone voet verder gaat. Chang is meegenomen voor verhoor, meldt zakenkrant Caijing, vlak voor een geplande vergadering op 28 december. Diens mobiele telefoon was onbereikbaar. AF

CHINA 2 SEP 2015

China Telecom appoints Xiaobing as CEO

China Telecom has appointed Chang Xiaobing as its chief executive officer, effective 1 September. In addition, the company will seek approval for the proposed appointment of Xiaobing as an executive director of the company from the shareholders of the company. The above appointment will be effective until the AGM of the company for the year 2016 to be held in 2017.

CHINA 10 JUL 2015

Six Tencent ex-employees arrested on bribery charges

Six former employees of Chinese internet company Tencent have been detained by authorities in a bribery investigation, the WSJ reports. Tencent said six former employees of its online video business have been arrested, without disclosing their names. Alibaba said Patrick Liu, head of Alibaba Digital Entertainment Group, who previously managed Tencent's online video business, has been detained by authorities. "This issue is related to his time at Tencent and has nothing to do with Alibaba," an Alibaba spokes

CHINA 11 SEP 2014

Huawei CEO dismisses reports of bribery probe

Huawei's chief executive has confirmed an internal probe into bribery at the Chinese telecoms equipment manufacturer, but dismissed it as a "routine investigation" into possible violations of the company's code of conduct. The comments from Ken Hu, Huawei's rotating chief, were the first executive confirmation of a probe that was reported in the Chinese press earlier this week, the Financial Times reports. However, Mr Hu declined to confirm the number of Huawei staff allegedly involved and whether any arres

CHINA 1 SEP 2014

Microsoft has 20 days to provide explanation in China probe

Chinese anti-trust regulator SAIC has given Microsoft 20 days to reply to queries on the compatability of its Windows OS and Office software suite. The State Administration for Industry and Commerce (SAIC) questioned Microsoft VP David Chen and gave the company a deadline to provide an explanation, Reuters reports. SAIC suspects that the company has not fully disclosed issues relating to the compatability of the software and the OS. "[A] special investigation team conducted an anti-monopoly investigation in

CHINA 26 AUG 2014

Chinese probe looks at Microsoft media player, browser

Chinese authorities are looking at how Microsoft distributes its media player and browser in the country, the Wall Street Journal reports. Zhang Mao, chief of China's State Administration for Industry and Commerce, said at a briefing that officials were probing distribution of those products, as well as how Microsoft sells its Office and Windows software. "Microsoft is suspected of incomplete disclosure of information related to Windows and Office software, as well as problems in distribution and sales of i

CHINA 25 AUG 2014

Qualcomm looks to resolve Chinese competition probe

Chinese regulators said that Qualcomm is willing to make efforts to resolve the competition investigation into the company, the Wall Street Journal reports. The National Development and Reform Commission, China's economic planning body, said in a statement on its website that it met on 21 August with a delegation from Qualcomm, including President Derek Aberle. "Qualcomm expressed its willingness to make improvements," the statement said. The statement didn't provide further details. Qualcomm confirmed that

CHINA 29 JUL 2014

Microsoft faces Chinese regulatory investigation

Microsoft confirmed it's under investigation in China but declined to provide further details. The US-based company said it was cooperating with Chinese government officials. Two people familiar with the matter told Bloomberg that China's State Administration for Industry and Commerce is conducting an anti-monopoly and anti-unfair competition probe. Government officials visited Microsoft offices in cities including Beijing and Shanghai, the report said. The Chinese officials obtained some documents and ques

CHINA 16 MRT 2012

China Mobile director resigns amid probe

China Mobile said that Lu Xiangdong, one of the company's 13 directors, resigned due to "personal circumstances." Earlier this month, the company said Lu was "assisting judicial authorities in the investigation of suspected financial-related issues". In a filing with Hong Kong stock-market regulators, China Mobile said Lu's resignation was prompted by "his inability to perform his duties as an executive director and a vice president under his current personal circumstances." It added that "there is no matte

CHINA 21 FEB 2011

Alibaba loses CEO, COO after fraud investigation

The CEO and COO of Chinese e-commerce group Alibaba.com have resigned following an internal investigation into fraudulent sellers on the site. CEO David Wei and COO Elvis Lee are stepping down, and Jonathan Lu, CEO at sister company Taobao, was named acting CEO. The investigation by a non-executive, independent board member at Alibaba centred on the growing number of compliants against fradulent sellers on the Alibaba marketplace starting in late 2009. The probe found that about 100 of Alibaba's sales peopl

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.